Tesla, Inc. is a well-known American electric vehicle and clean energy corporation.
The company creates and produces electric vehicles that can be charged from the home or with solar panels.
Electric vehicle-related items and services are manufactured and provided.
With a market valuation of more than $1 trillion, Tesla is and remains one of the most valuable corporations in the world.
Tesla now accepts payments in Dogecoin:
Tesla CEO Elon Musk revealed in a tweet on December 14, 2021 that:
"Tesla will make some things available for purchase using the Doge."
They'll see how things proceed, he added.
Tesla has already accepted DOGE as a payment mechanism for items, despite the fact that the announcement was only a few weeks ago.
Customers will now be able to choose from a variety of things and pay for them using the popular meme money.
Some electronic equipment is among these items.
Dogecoin becomes the only cryptocurrency approved by Tesla: This decision makes Dogecoin the sole cryptocurrency accepted by the electric car company.
Tesla began accepting bitcoin for its cars in early 2021, but it abruptly reversed course a few months later.
Concerned about the potential environmental impact of bitcoin mining, the company's CEO eliminated bitcoin as a payment option, resulting in a large price drop.
DOGE price reaction:
Following the Tesla news, DOGE is up 14% in 24 hours and has soared to a monthly high (over $0.2) this morning.
This is also the currency's fifth day of advances in a row, putting it on track to gain almost 25% in the last week.
The coin is currently trading at $0.197, down 73 percent from its all-time high of $0.7403.