Dogecoin Jumps 15% After Elon Musk Says Tesla Will Accept the Meme Coin for Merchandise

Asia's Tech News Daily

The recent crypto-market surge continued into Friday morning, with Dogecoin initially spiking more than 15% after Tesla announced it would accept the meme coin for some merchandise, CNBC reports

Earlier this morning, Tesla CEO Elon Musk tweeted that the company’s merchandise can be bought with Dogecoin. The cryptocurrency, which got its start as a joke spinoff of Shiba Inu coin, is accepted for only certain Tesla products, among them a Cybertruck-shaped whistle that costs 300 Doge (about $59) and a commemorative belt buckle honoring Tesla’s Texas Gigafactory for 835 Doge (about $164). 

Musk has been a vocal supporter of Dogecoin, frequently firing off tweets that move its price, and Tesla’s new acceptance of the payment comes as no surprise. In December, Musk wrote on Twitter that “Tesla will make some merch buyable with Doge & see how it goes.”

But buying Tesla merchandise with Dogecoin comes with some restrictions. Most notably, orders paid for with Dogecoin can’t be canceled or refunded, whereas items purchased with traditional forms of payment can be returned within 30 days of receipt. It can also take up to six hours for the Dogecoin network to confirm payment, and users who mistakenly overpay are out of luck, as “the overpayment amount will not be refunded to the original form of payment,” Tesla’s website states.

Tesla has also accepted crypto as a form of payment in the past. Just last year, following the company’s purchase of $1.5 billion worth of Bitcoin, it announced its buyers could use Bitcoin for transactions. But Tesla walked back its Bitcoin acceptance after Musk expressed environmental concerns over its substantial energy usage. Dogecoin consumes far less energy, per TRG Datacenters

Other major U.S. companies, including PayPal, AT&T and Starbucks, continue to accept Bitcoin and other forms of crypto payment. 

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Ripple In The Pond – Oil & Gas In 2022

Happy New Year friends and investors! What an amazing new year it is likely to be. Like a bolder dropped in a pond, the virus produced a huge implosion of ... Read more »

Bassett (BSET) to Post Q4 Earnings: What's in the Offing?

Bassett Furniture Industries, Incorporated’s BSET fourth-quarter fiscal 2021 earnings and revenues are expected to have decreased on a year-over-year basis, thanks to raw material shortages, escalating labor and commodity costs, ... Read more »

Southern Copper (SCCO) Earnings Expected to Grow: What to Know Ahead of Q4 Release

Wall Street expects a year-over-year increase in earnings on higher revenues when Southern Copper (SCCO) reports results for the quarter ended December 2021. While this widely-known consensus outlook is important ... Read more »

Earnings Preview: Citizens Financial Services (CZFS) Q4 Earnings Expected to Decline

Citizens Financial Services (CZFS) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2021. This widely-known consensus outlook ... Read more »

Can High Revenues Drive Northern Trust's (NTRS) Q4 Earnings?

Northern Trust Corporation’s NTRS fourth-quarter and 2021 results, scheduled for Jan 20 release, are expected to indicate gains in revenues and earnings from the respective year-ago reported figures. – Zacks ... Read more »

Republic First (FRBK) Earnings Expected to Grow: Should You Buy?

Republic First (FRBK) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2021. This widely-known consensus outlook gives ... Read more »

RBB (RBB) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

Wall Street expects a year-over-year increase in earnings on higher revenues when RBB (RBB) reports results for the quarter ended December 2021. While this widely-known consensus outlook is important in ... Read more »

Millennials Aren't Always About the Digital Experience. That's Good News for Your Marketing Department.

It turns out that millennials’ digital-first reputation might be getting misinterpreted. And that could be a very good thing for your business’s marketing department. As a generational cohort, the majority ... Read more »

The Best Ways to Secure Your Digital Assets and Protect Your Cyber Livelihood

The development of digital assets in the 21st century includes everything from documents saved on the cloud, to eCommerce and virtual content, (which now has adaptive database storage). Technology has created a ... Read more »

3 Reasons Growth Investors Will Love Genesco (GCO)

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market’s attention and produce exceptional returns. But finding a growth stock that can ... Read more »

Get Up to Speed on Cisco Networking and IT Skills

For many digital businesses, IT support can be a problem. When you run most of your business online, you need outstanding support for your digital resources, so that your customers ... Read more »

Here is Why Growth Investors Should Buy AutoNation (AN) Now

Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market’s attention and produce exceptional returns. But finding a great growth stock is ... Read more »

Top Stock Reports for JPMorgan, NIKE & Union Pacific

Monday, January 17, 2022 The Zacks Research Daily presents the best research output of our analyst team. Today’s Research Daily features new research reports on 16 major stocks, including JPMorgan ... Read more »

3 Reasons Growth Investors Will Love ArcBest (ARCB)

Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market’s attention and produce exceptional returns. However, it isn’t easy to find a ... Read more »

Why the Earnings Surprise Streak Could Continue for Huntsman (HUN)

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly ... Read more »

Is Advanced Micro (AMD) a Solid Growth Stock? 3 Reasons to Think " Yes "

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market’s attention and produce exceptional returns. But finding a great growth stock is ... Read more »

Why Ovintiv (OVV) Could Beat Earnings Estimates Again

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly ... Read more »

Earnings Estimates Moving Higher for Caleres Inc. (CAL): Time to Buy?

Investors might want to bet on Caleres Inc. (CAL), as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, ... Read more »

Looking for a Growth Stock? 3 Reasons Why AMN Healthcare (AMN) is a Solid Choice

Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market’s attention and deliver solid returns. But finding a growth stock ... Read more »

Why Expeditors International (EXPD) Could Beat Earnings Estimates Again

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Expeditors International (EXPD), which ... Read more »

Why Group 1 Automotive (GPI) Could Beat Earnings Estimates Again

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly ... Read more »

Cat And Mouse – As Scammers Step Up Their Game, Crypto Security Must Keep Pace

Leading blockchain security firm Chainalysis recently released the first glimpse of its 2022 Crypto Crime Reports, and although there are some signs of progress, it makes for sober reading. In ... Read more »

How to Build True Resilience Amid a Changing Business Landscape

The concept of resilience, as it applies to both organizations and individuals, has evolved significantly in recent years. The term that once referred to the ability to withstand sudden change ... Read more »

How to Develop Lifelong Clients

According to a survey of businesses conducted by the consulting company Invesp (which specializes in conversion rate optimization), it costs five times more to obtain new clients as it does ... Read more »

5 Innovative Global Initiatives to Invest In

When most people envision investors’ portfolios, they picture lists of stocks, annuities, and bonds. Yet investing can go far beyond those vehicles. Many people decide to grow and share their ... Read more »

Mastercard (MA) Ties Up to Accelerate B2B Payments in Canada

Mastercard Incorporated MA recently collaborated with BMO Financial Group, a financial services provider, and Moneris Solutions Corporation, a payment solutions provider. Through the partnership with the two Canada-based companies, MA’s ... Read more »

This is Why Hormel Foods (HRL) is a Great Dividend Stock

Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor’s dream. But for income investors, generating consistent cash flow ... Read more »

Reasons to Hold on to Montrose Environmental (MEG) Stock

Montrose Environmental Group, Inc. MEG has had an impressive run on the bourse over the past year. The stock returned 34.1% over the past year against 8.2% decline of the ... Read more »

Why Emerson Electric (EMR) is a Top Dividend Stock for Your Portfolio

Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor’s dream. But for income investors, generating consistent cash flow ... Read more »

Vail Resorts (MTN) Reports Ski Season Metrics, Skier Visits Down

Vail Resorts, Inc. MTN reported certain ski season metrics for the period from the beginning of the ski season through Jan 2, 2022. – Zacks Ski Season Metrics Season-to-date (through ... Read more »

What's in the Offing for Citizens (CFG) in Q4 Earnings?

Citizens Financial Group CFG is scheduled to report fourth-quarter and 2021 results on Jan 19, before the opening bell. While its quarterly earnings are expected to have improved year over year, ... Read more »

10 Secret Ways To Find The Best Penny Stocks To Buy In 2022

Penny stocks are high-risk, high-reward investments. If you’re looking to take a risk on the stock market to make some serious money, then penny stocks might be for you. However, ... Read more »

Key Factors to Affect M&T Bank (MTB) This Earnings Season

M&T Bank Corporation MTB is scheduled to report fourth-quarter and 2021 results on Jan 20, before the opening bell. The company’s revenues and earnings are expected to have decreased year over ... Read more »

3 Franklin Templeton Mutual Funds for a Steady Portfolio

Founded in 1947, Franklin Templeton Investments prides itself in offering “exceptional asset management” to its clients in more than 165 nations. It has offices in more than 30 countries and ... Read more »

Can Travelers (TRV) Retain Its Surprise Streak in Q4 Earnings?

The Travelers Companies, Inc. TRV is set to report fourth-quarter 2021 earnings on Jan 20. The company delivered an earnings surprise in each of the reported quarters of 2021. – ... Read more »

Smart Money Podcast: How Nerds Choose the Best, and Paying for College

Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. NerdWallet – NerdWallet This week’s episode starts with a discussion about how Nerds choose the best financial ... Read more »

Designer Brands and Bed Bath & Beyond have been highlighted as Zacks Bull and Bear of the Day

For Immediate Release Chicago, IL – January 17, 2022 – Zacks Equity Research shares Designer Brands Inc. DBI as the Bull of the Day, and Bed Bath & Beyond BBBY ... Read more »

Here's Why "Trend" Investors Would Love Betting on Lynas Corp. (LYSDY)

When it comes to short-term investing or trading, they say “the trend is your friend.” And there’s no denying that this is the most profitable strategy. But making sure of ... Read more »

8 Practical Tips for Successfully Launching Your Startup

If you’re looking to launch a startup, there’s no better time than now. The startup world is buzzing with activities and opportunities that have never been available before. However, launching ... Read more »

Why Fast-paced Mover Performance Food (PFGC) Is a Great Choice for Value Investors

Momentum investors typically don’t time the market or “buy low and sell high.” In other words, they avoid betting on cheap stocks and waiting long for them to recover. Instead, ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic