Tesla (TSLA) CEO Elon Musk is once again helping his pet cryptocurrency, dogecoin (DOGE), gain some momentum.
- The billionaire tweeted Friday morning ET that merchandise for SpaceX, his space exploration startup, will soon be able to be bought with dogecoin, just as it can be for Tesla merchandise.
- The price of dogecoin jumped as much as 10% to nearly 9 cents immediately following the tweet, before recently settling to a gain of about 7.7%.
- In December, Musk’s announcement that Tesla merchandise could be bought with dogecoin helped DOGE prices surge as much as 33%.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.