Musk says Tesla to accept Dogecoin for merchandise
Tesla Inc will accept meme-based cryptocurrency Dogecoin as payment for its merchandise such as the "Giga Texas" belt buckle and mini models of electric vehicles, chief executive officer Elon Musk said in a tweet on Friday.
The move, which sent Dogecoin prices 14% higher, comes a month after Musk said Tesla would test out the digital token as a payment option.
Musk, a vocal proponent of cryptocurrencies, has heavily influenced prices of Dogecoin and Bitcoin, and at one point had said the company would accept Bitcoin for purchasing its cars before axing plans.
Tesla's merchandise, which also include the recently launched "Cyberwhistle" and "Cyberquad for Kids," are a hit with its fans, and usually sell out within a few hours of listing.
"Some have noted that goods for doge are selling out even faster than for dollars. This news is a good illustration of crypto's continued penetration of corporate culture," said Alex Kuptsikevich, senior financial analyst at FxPro.
Musk's tweets on Dogecoin, including the one where he called it the "people's crypto," have turned the once-obscure digital currency, which began as a social media joke, into a speculator's dream. The token's price surged by about 4,000% in 2021.
Tesla disclosed last year it had bought US$1.5 billion worth of Bitcoin, and Musk has also said he owns some Bitcoin and Dogecoin.
Tesla is facing intense competition as legacy automakers such as Ford Motor Co. as well as startups including Rivian Automotive are set to launch their electric cars this year.
Tesla's much-awaited Cybertruck will begin production in the first quarter of 2023, pushing back its plan to start production in late 2022, Reuters reported.
(Reporting by Akash Sriram, Nivedita Balu, Medha Singh, Rachna Dhanrajani and Anirudh Saligrama in Bengaluru; Editing by Shounak Dasgupta and Saumyadeb Chakrabarty)
Shopping Trends
The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us.
YOUR FINANCES
Here's how much more your Christmas dinner will cost this year
Celebrating with your family this December could come with increased expenses as data shows many traditional holiday foods are going up in price.
Canadians increasingly turning to charities to meet essential needs, but cost of living also hitting donations
Every Giving Tuesday, many Canadians generously dig into their wallets to donate to charities, but as the cost of living climbs, research suggests many Canadians are also in need of help.
What is the grocery code of conduct, and will it help to lower the cost of food?
Canada's grocery code of conduct is in the final stages with advocates saying it would help lower food prices while big grocers say it won't.
Poor Inuit housing 'direct result of colonialism': federal housing advocate
A federal housing advocate is accusing every level of government in Canada of failing to uphold the Inuit's right to housing -- and therefore denying their human rights.
Having financial problems? Don't get caught in debt relief scams
With inflation, rising interest rates, and higher costs for gas, groceries and housing, many Canadians are feeling the financial pinch and now personal bankruptcies are on the rise.
Do you tip at a restaurant like Chipotle? Here’s what a survey found
But the majority of Americans say they tip 15 per cent or less for a typical meal at a sit-down restaurant, according to a wide-ranging new poll on tipping attitudes from Pew Research Center. The poll surveyed nearly 12,000 people.
Loblaw raises the affordability alarm as grocery code of conduct nears completion
As the grocery code of conduct nears completion, the Canadian industry's biggest player is raising concerns the guidelines could add fuel to the food inflation fire.
Here's how much it costs to raise children in Canada, according to new statistics
A new report from Statistics Canada estimates how much parents will spend on children over the course of their lifetime.
CTVNews.ca Top Stories
Two Canadian citizens confirmed dead in Antigua: Global Affairs
Global Affairs Canada has confirmed the death of two Canadian citizens in Antigua and Barbuda, news that comes amid reports from local officials that a woman and child drowned last week at Devil’s Bridge.
Senators were intimidated, had their privilege breached, Speaker rules
Any attempt to intimidate a senator while in the process of fulfilling their duties is a breach of their privilege, even if the effort is ultimately unsuccessful, the Speaker of the Senate ruled Tuesday.
Nearly 70 victim impact statements expected at Nathaniel Veltman sentencing
As the Crown and the defence discussed legal matters ahead of the sentencing hearing of Nathaniel Veltman, the court heard that 68 victim impact statements are expected to be submitted.
'Widespread' sexual and gender-based crimes committed during Hamas attack, Israeli officials say
Israeli officials say there were 'widespread' sexual and gender-based crimes committed by Hamas during its Oct. 7 surprise attack on Israel.
Montreal Mayor Valerie Plante collapses during press conference
Montreal Mayor Valérie Plante is 'doing well' but will reduce the pace of her activities over the next few days after collapsing during a press conference at City Hall on Tuesday morning.
opinion
opinion Tom Mulcair: Poilievre keeps scoring into the Liberals' empty net
In his column for CTVNews.ca, former NDP leader Tom Mulcair says Pierre Poilievre's new 'Housing Hell' video dealt a 'devastating' blow to Prime Minister Justin Trudeau and his Liberals, whose cupboard seems empty of big ideas.
Here is Canada's unseasonably mild December forecast
December is predicted to be unseasonably mild across Canada, thanks to a "moderate-to-strong" El Nino and human-caused warming. Warming and precipitation trends will be stronger in some parts of the country than others, and severe weather is still possible, meteorologists say.
Israel moves into Gaza's second-largest city and intensifies strikes in bloody new phase of the war
Israel said Tuesday that its troops had entered Gaza's second-largest city as intensified bombardment sent streams of ambulances and cars racing to hospitals with wounded and dead Palestinians, including children, in a bloody new phase of the war.
Canadian 15-year-old students' math scores have been dipping since 2003: study
Most 15-year-old students in Canada met the basic standards for math and the country was among the top 10 performers in the tests, though scores have been dropping since 2003, according to a new global report.
Canada
-
Nearly 70 victim impact statements expected at Nathaniel Veltman sentencing
As the Crown and the defence discussed legal matters ahead of the sentencing hearing of Nathaniel Veltman, the court heard that 68 victim impact statements are expected to be submitted.
-
What is CSIS' physical surveillance unit, where staff allege sex assault, harassment?
The physical surveillance unit of the Canadian Security Intelligence Service is tasked with collecting intelligence by covertly observing targets. It's at the centre of allegations that its B.C. office was a toxic workplace, where senior staff bullied and harassed young officers, including two women who told The Canadian Press they were sexually assaulted by a senior colleague in surveillance vehicles while on missions.
-
Charges stayed against Winnipeg man accused of handing out cannabis gummies on Halloween
The charges have been stayed against one of the two people accused of handing out cannabis-infused gummies to children on Halloween in Winnipeg last year.
-
N.S. town that changed Cornwallis Street to Queen now considering 'alternate options'
The mayor of Lunenburg, N.S., says council is now considering "alternate options" after facing backlash for renaming the town's Cornwallis Street after the queen.
-
Here is Canada's unseasonably mild December forecast
December is predicted to be unseasonably mild across Canada, thanks to a "moderate-to-strong" El Nino and human-caused warming. Warming and precipitation trends will be stronger in some parts of the country than others, and severe weather is still possible, meteorologists say.
-
Canadian 15-year-old students' math scores have been dipping since 2003: study
Most 15-year-old students in Canada met the basic standards for math and the country was among the top 10 performers in the tests, though scores have been dropping since 2003, according to a new global report.
World
-
'Widespread' sexual and gender-based crimes committed during Hamas attack, Israeli officials say
Israeli officials say there were 'widespread' sexual and gender-based crimes committed by Hamas during its Oct. 7 surprise attack on Israel.
-
Israel moves into Gaza's second-largest city and intensifies strikes in bloody new phase of the war
Israel said Tuesday that its troops had entered Gaza's second-largest city as intensified bombardment sent streams of ambulances and cars racing to hospitals with wounded and dead Palestinians, including children, in a bloody new phase of the war.
-
U.S. Air Force identifies the 8 U.S. crew lost in Osprey crash in Japan
Air Force Special Operations Command said Tuesday it has identified the eight service members lost when their Osprey crashed off the coast of Japan last week and was focused on recovering all of their bodies and the aircraft debris.
-
Families of 3 Black victims in fatal Florida Dollar General shooting plead for end to gun violence
Lawyers and family members of three Black people who were fatally shot during a racially motivated attack at a north Florida Dollar General on Tuesday blamed the national chain for not providing security to protect customers and employees.
-
China raises stakes in cyberscam crackdown in Myanmar, though loopholes remain
China is ramping up a crackdown on online scams operated by criminal syndicates in border areas of military-ruled Myanmar in an effort that has included a shootout, confession videos and national TV broadcasts of arrests of high-profile suspects.
-
The Gaza Strip: Tiny, cramped and as densely populated as London
The war between Israel and Hamas has seen fierce Israeli bombardment that has flattened broad swaths of the Gaza Strip. Thousands of people have been killed and hundreds of thousands have been displaced. And all that is happening in a tiny, densely populated coastal enclave.
Politics
-
MPs to vote on referring 'serious error' Speaker Fergus made to House affairs committee for study
MPs will be deciding Wednesday whether House of Commons Speaker Greg Fergus' video in his traditional Speaker's garb that played at a partisan event constitutes a 'serious error of judgment' and merits a committee probe.
-
Duelling housing messages showcase different Conservative, Liberal strategies
Every week now for more than a month, cabinet ministers have been appearing in front of cameras on Parliament Hill in an effort to convince Canadians that the Liberal government has the housing crisis in hand.
-
Senators were intimidated, had their privilege breached, Speaker rules
Any attempt to intimidate a senator while in the process of fulfilling their duties is a breach of their privilege, even if the effort is ultimately unsuccessful, the Speaker of the Senate ruled Tuesday.
Health
-
Eating disorder hospitalizations among boys increased 416 per cent over 17 years: Canadian study
Over the last 17 years, the number of eating disorders among boys has seen a shocking increase, ballooning to 400 per cent higher than the number seen in the early 2000s.
-
Alcohol taxes aren't high enough, says World Health Organization
The World Health Organization urged governments on Tuesday to increase taxes on alcoholic drinks and impose them on products that are currently exempt, such as wine in some European countries.
-
2 patients die in ER waiting room of hospital on Montreal's South Shore
An investigation is underway after two people died while waiting in the emergency room at Anna-Laberge Hospital.
Sci-Tech
-
GM's Cruise robotaxi service faces potential fine in alleged cover-up of San Francisco accident
California regulators say a San Francisco robotaxi service owned by General Motors covered up an accident involving one of its driverless cars, raising the specter they may add a fine to the recent suspension of its California license.
-
Here's how many people will be at risk of homelessness by 2030, according to this AI
An artificial intelligence algorithm has estimated that Canada’s homeless population will almost double by 2030. Researchers fear a lack of action will make this prediction come true.
-
'That's the real thing': Edmonton man makes rare meteorite find
In October 2022, Doug Olsen was folding laundry in his southeast Edmonton home when he was startled by the loud bang of a meteorite landing on his roof.
Entertainment
-
Actors vote to approve deal that ended strike, bringing relief to union leaders and Hollywood
Hollywood's actors have voted to ratify the deal with studios that ended their strike after nearly four months, leaders announced Tuesday.
-
4 more members of K-pop supergroup BTS to begin mandatory South Korean military service
Four more members of the K-pop supergroup BTS are to begin their mandatory South Korean military duties soon, their management agency said.
-
Pixar's Toronto-set 'Turning Red' among Disney Plus debuts now headed to theatres
Pixar's Toronto-set animated film "Turning Red" is getting its day on the big screen after a Disney Plus home premiere during the COVID-19 pandemic.
