The crypto market was surprised last Friday (14) with a new announcement from billionaire Elon Musk. This time, the SpaceX creator revealed that the digital currency dogecoin (DOGE) can be used to buy items related to Tesla.
Being tested by the company since December 2021, dogecoin payments will be used to buy items such as Tesla’s electric quadricycle and even accessories for the company’s electric car models.
However, it will not yet be possible to buy electric vehicles such as the Tesla Model 3. Before announcing dogecoin, Elon Musk had already accepted the bitcoin as a means of payment at the beginning of 2021.
However, shortly afterward, the most famous digital currency on the market was excluded from the payment options at Tesla. At the time, Elon Musk stated that bitcoin was not sustainable and, therefore, the cryptoasset should not be accepted by the company.
The announcement of Tesla’s adoption of dogecoin was greeted enthusiastically by the crypto market, and the price of the digital currency skyrocketed last week. Soon after Elon Musk’s tweet, DOGE reached US$ 0.2028, facing a sudden 30% appreciation.
However, the ‘Elon Musk effect’ passed after the announcement about the adoption, and the cryptoasset underwent a brief correction. On Monday (17), for example, the price of dogecoin is US$ 0.1704, with a cumulative devaluation of 4.07% over the past 24 hours.