On December 14, Dogecoin (DOGE) experienced a sharp price increase after Elon Musk revealed that Tesla would begin <a href="https://news.yahoo.com/bitcoin-price-news-live-crypto-124804567.html" target="_blank" rel="nofollow noopener">accepting</a> it for some sales. DOGE / USD gained nearly 25% on the day, making it the only primary cryptocurrency to see gains.
<h2>Elon Musk confirms Tesla will accept DOGE for Merchandise</h2>
Following Tesla CEO <a href="https://www.cryptoknowmics.com/news/elon-musk-says-bitcoin-suitable-for-store-of-value-whereas-dogecoin-for-transactions/">Elon Musk's</a> announcement that the automaker would soon begin taking DOGE for items, the change was made.

He tweeted, "Tesla will make some items buyable with Doge and see how it goes."

https://twitter.com/elonmusk/status/1470703708677840896

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As a result, Tesla takes the unique step of accepting only Dogecoin out of all the cryptocurrency options available. Musk runs the danger of enraging Bitcoin supporters, having previously authorized then disallowed <a href="https://www.cryptoknowmics.com/news/the-long-term-bitcoin-solution-of-terawulf-is-attracting-a-list-investors/">Bitcoin</a> purchases for Tesla automobiles due to purported environmental concerns.
<h2>Person of the Year - Elon Musk</h2>
Musk stated that Dogecoin is "better suited for transactions" than Bitcoin after being named TIME Magazine's "Person of the Year" this week.

"The overall transaction flow that you conduct with Dogecoin, like transactions per day, has a far bigger potential than Bitcoin," he stated, adding to a long list of prominent endorsements for DOGE.

With Bitcoin retaining its 40 percent market cap domination while failing to reverse its decline, there is little reason to believe that bagholders will see new profits this year.

 Tesla Accepts DOGE for Merchandise; Dogecoin Gains 25% 

Dogecoin (DOGE) experienced a sharp price increase after Elon Musk revealed that Tesla would begin accepting it for some sales.

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

Tesla Accepts DOGE for Merchandise; Dogecoin Gains 25%

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