Elon Musk Tweet: Tesla Accepting Dogecoin, But There Is A Catch!

Read full article at Coingape.

Price Analysis: Dogecoin, Shiba Inu and Polygon Coins Depreciate Over 5%

Dogecoin prices spiked due to Tesla CEO’s tweet about buying Tesla merchandise with Dogecoin. However, there is a catch! Tesla states that it will not issue refunds or accept returns for purchases made in DOGE. There is no information yet on how much merch has been sold from Dogecoins.

Tesla’s website stated that it won’t accept any other assets but DOGE. The page stated that customers that “non-Dogecoin digital assets sent to Tesla will not be returned to the purchaser.”

However, there are other riders also to the offer from Tesla. Tesla will accept cryptocurrency as payment for a small number of items. Reuters confirmed that it includes a belt buckle Tesla makes called the “Giga Texas,” along with a whistle and mini models of their electric vehicles.

Below is the screencap of the Tesla website on accepting Dogecoin.

[Image via tesla.com/support/dogecoin]

Once again, the maverick technocrat and Billionaire Tesla chief have caused a significant surge in the values of Dogecoin with his tweets, reports marca.com. Tesla CEO’s tweet about buying Tesla with Dogecoin has once again caused a rise in the value of Dogecoin. Dogecoin’s value surged after Tesla Chief said that his company would be accepting Dogecoin as payment for some of its products.

His tweet, which read “Tesla merch buyable with Dogecoin,” led the meme-based coin to jump to $0.20 at around 01:00 AM. EST. The currency jumped 9% by 7:00 AM on Friday, too.

Details of what buyers can buy from Tesla with Dogecoin are now available.

According to CNBC, details of what buyers can buy are now available. Musk has caused surges in the values of Dogecoin in the past and often made headlines with statements that seemed to show his love for the meme-based coin. He has also conducted a poll that asked if Tesla should accept Dogecoin for people to buy Tesla products. When it was released, there were more than 3.9 million votes, with 78.2% saying “Yes.” Musk’s tweets often led to a spike in the values of Dogecoin. Since Dogecoin is a meme-based coin, its values often rely upon social media hype and discussion to earn value.

As per CNBC, Musk’s tweets and surging interest from a wave of greenhorn investors often created a speculative frenzy in the cryptocurrency earlier this year and drove its prices higher. The recent tweet by Musk led to a jump of 15% in the value of the meme-based coin.

Tesla Chief’s tweets are not taken seriously

However, the tweets and statements from the maverick technocrat are not taken seriously. For example, Musk had earlier announced that Tesla would accept Bitcoin as payment for its cars. He, however, backtracked on his statement and said that Bitcoin mining is environmentally destructive, and Tesla refused to accept BTC as payment for its wares.

The post Elon Musk Tweet: Tesla Accepting Dogecoin, But There Is A Catch! appeared first on CoinGape.

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CryptosOnline.com does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency