Dogecoin jumps after Musk tweets Tesla merchandise 'buyable' with the token

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

SINGAPORE (Reuters) - Meme-based cryptocurrency dogecoin jumped on Friday after Tesla Inc chief Elon Musk said the electric carmaker will accept it as payment for merchandise.

"Tesla merch buyable with Dogecoin," Musk tweeted.

His mid-December tweet saying such use of dogecoin will be allowed on a test basis sent the cryptocurrency up more than 20%.

Dogecoin, popular among retail investors, raced up 18% to above $0.2 after Friday's tweet.

Musk's tweets on the cryptocurrency, including the one where he called it the "people's crypto", buoyed the meme coin and caused it to soar roughly 4,000% in 2021.

(Reporting by Tom Westbrook and Vidya Ranganathan; Editing by Jacqueline Wong)

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights


Next In Tech News

Data of Malaysians born between 1940 and 2004 allegedly being sold for over RM40,000
Netflix trims staff to weather slowing growth
The ‘bots’ at heart of Twitter buyout row
Uganda sued over digital ID system that excludes millions
Opinion: Show kids how to use smartphones the right way
Snapchat’s ‘crying face filter’ takes over social media
Britishvolt, Scorpio Group to research maritime EV batteries, storage
Tesla to host second artificial intelligence day in August
Self-driving startup Wayve taps Microsoft for 'supercomputer muscle'
Livestreamed carnage: Tech's hard lessons from mass killings

Others Also Read