You can now buy certain Tesla products, including the highly-coveted “Cyberwhistle” and “Cyberquad,” using Elon Musk’s favorite cryptocurrency, dogecoin. In a tweet early Friday, the Tesla CEO announced, “Tesla merch buyable with Dogecoin.” The tweet instantly sent dogecoin price to jump 15 percent to $0.20 Friday morning before paring gains.
Tesla merchandise is a line of car accessories and fan collectibles often designed in commemoration of new vehicle models or important company milestones. Last month, Tesla introduced a steel whistle shaped like the upcoming Cybertruck and an electric “Cyberquad” for kids. The Cyberwhisle is currently priced at 300 doge, equivalent to $59, and the Cyberquad costs 12,020 doge ($2,391). A “Giga Texas Belt Buckle,” launched to celebrate Tesla’s new factory in Texas, is available for 835 doge ($164).
Obviously, you would need a dogecoin wallet to purchase these items in crypto. The offering comes with several caveats, however. First, orders paid for in dogecoin are not refundable. (Orders using traditional payment methods can be returned within 30 days.) “Even if an order is overpaid in doge, the overpayment amount will not be refunded to the original form of payment,” according to Tesla website. Tesla also warns that it can take up to six hours for the dogecoin network to confirm a payment, which is not cancellable once initiated.
Musk hinted at Tesla’s plan to accept dogecoin in December, when he tweeted that “Tesla will make some merch buyable with Doge & see how it goes.” That tweet, too, sent dogecoin price soaring 20 percent in one day.
It’s not the first time Tesla has experimented incorporating cryptocurrencies into its core EV business. In March 2021, the company briefly accepted Bitcoin as a payment option for its electric cars. The program was quickly ended after Musk expressed concerns over the environmental impact of Bitcoin mining. “Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment,” he said in a statement in May 2021.
The same month, he touted dogecoin as a promising alternative with a smaller environmental footprint. “Working with Doge [developers] to improve system transaction efficiency. Potentially promising,” Musk tweeted.