(MENAFN) Tesla, the electric car manufacturer led by billionaire Elon Musk, begun to accept Dogecoin as payment for purchasing Tesla products; it’s good to note that Dogecoin initially wasn’t a serious cryptocurrency.
On Friday, Mr. Musk broke the news on Twitter, a month since he teased the intentions. The announcement caused Dogecoin's rate to skyrocket, nevertheless it plummeted shortly after.
Mr. Musk's remarks have always had a significant impact on the value of cryptos; such as Dogecoin and Bitcoin.
The announcement comes a month after Mr. Musk suggested Tesla will try out the digital currency as a form of payment, escalating Dogecoin prices up by more than 14 percent at once.
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