Tesla will accept dogecoin as payment for merchandise on a test basis, chief executive Elon Musk said in a tweet.
Dogecoin is up 24% as a result of the announcement.
Dogecoin, , popular among retail investors, raced up to $0.20 after the tweet.
Musk has often endorsed dogecoin and said it is better for transactions, most recently in an interview to the Time magazine, which named him “Person of the Year” for 2021 on Monday.
