Elon Musk, the richest person in the world has announced that his company Tesla (NASDAQ: TSLA) will allow people to buy some of its merchandise using the meme-based cryptocurrency Dogecoin.
“Tesla will make some merch buyable with Doge & see how it goes,” Musk tweeted Tuesday.
The price of Dogecoin was plummeting before Musk announced the news. However, following his tweet, the cryptocurrency surged as much as 30%. It was last up 26% at $0.2092, according to data from CoinMarketcap.
The CEO of Tesla has been an avid supporter of Dogecoin. This year, the billionaire claimed the title of “Dogefather” for himself. Interestingly, Dogecoin has started as a joke in 2013, but the digital token has turned several new traders into millionaires since then.
In May, Musk asked his Twitter followers in a poll whether Tesla should accept Dogecoin as a payment method. The response was an overwhelming “yes.”
In the same month, Musk said that he thought Dogecoin could ironically become the future of cryptocurrencies.
