Tesla CEO Elon Musk announced in a short tweet Friday that the company will now accept the meme-based cryptocurrency dogecoin for some merchandise the company sells.
As CNBC reported, the announcement caused the price of dogecoin to jump above 15%.
Telsa will only accept the cryptocurrency as payment for a small number of items including a belt buckle Tesla makes called the "Giga Texas," along with a whistle and mini models of their electric vehicles, Reuters confirmed.
Musk, a vocal supporter of cryptocurrencies has had a heavy influence on their price, and once announced that Tesla would accept bitcoin as payment for its cars, then shortly after canceled that plan, according to Reuters.
Tesla merch buyable with Dogecoin— Elon Musk (@elonmusk) January 14, 2022
Among the small number of items Tesla is making available for purchase with dogecoin is their whistle, which is shaped like a Tesla Cybertruck. That item will cost 300 dogecoin and is described on Tesla's shop website as a "limited-edition Cyberwhistle." Tesla calls it "a premium collectible made from medical-grade stainless steel with a polished finish." According to current market value, that 300 dogecoin price tag would translate to about $57.
According to a note on Tesla's shop Friday, the product was "out of stock."