Elon Musk declared overnight that Dogecoin will now be accepted as payment for some Tesla products, stirring up controversy in the crypto community.
Dogecoin’s price was rising more than 15% early Friday, according to CNBC, before relinquishing some of its profits. The Dogecoin was traded at $0.18 a little after 7:00 a.m. ET, according to the business media source.
The Giga Texas Belt Buckle, the Cyberwhistle (which is designed to match the form and general aesthetic of the Cybertruck), and the Cyberquad for Kids are among the Tesla-related items purchasable with Dogecoin at the time of writing this article.
According to a separate MarketWatch report published on Friday, Musk prompted comparable gains for Dogecoin in December after suggesting the new payment option.
At the time, SpaceX founder and Tesla CEO Elon Musk announced the team would “see how it goes” after making certain items purchasable via cryptocurrency(Dogecoin).
Musk’s SpaceX made headlines last September when it successfully launched the world’s first all-civilian flight into orbit.