Dogecoin jumps after Musk tweets Tesla merchandise ‘buyable’ with the token
SINGAPORE, Jan 14 (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.
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)