Tesla to accept dogecoin as payment for merchandise, says Musk

FILE PHOTO: A representation of cryptocurrency Dogecoin is seen in this illustration taken August 6, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters) - Tesla Inc chief Elon Musk said on Tuesday the electric carmaker will accept dogecoin as payment for merchandise on a test basis, sending the meme-based cryptocurrency up over 20%.

"Tesla will make some merch buyable with Doge & see how it goes," Musk said in a tweet. The carmaker's shares were down 3% in early trading, amid broader market declines. [.N]