Billionaire Tesla founder Elon Musk on Friday (January 14) announced that the company will accept Dogecoin, cryptocurrency as one of the modes of payment from customers.
However, customers can not buy electronic vehicles using Dogecoin, but only select merchandise on the company’s online store.
As per the latest cryptocurrency exchange rate, one Dogecoin is valued at $0.20 in the US and Rs 14.76 in India.
It should be noted that back in June 2021, Tesla for a brief period of time, accepted Bitcoin from customers to buy even cars.
Tesla merch buyable with Dogecoin
— Elon Musk (@elonmusk) January 14, 2022
But, it was later withdrawn as mining Bitcoin had a negative impact on the environment. It came to light the energy to run power-intensive servers to solve mathematical puzzles to earn Bitcoin was driven by coal-based electricity generators.
Musk assured cryptocurrency backers that the company would resume allowing Bitcoin transactions when miners who verify transactions use more renewable energy.
As of now, one Bitcoin is valued at around $42,993 in the US and Rs 31,80,283 in India.
[Note: Trading in cryptocurrency is illegal in India]
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