Africa Business Radio

Tesla Inc chief Elon Musk says the electric carmaker will accept dogecoin as payment for merchandise on a test basis, sending the meme-based cryptocurrency up over 20%. Dogecoin, popular among retail investors, raced up to $0.20 after the tweet. Chris Kline, co-founder of Bitcoin IRA says Elon Musk has been an advocate for the crypto community for many years. His latest announcement will usher in a new era of commerce and trailblaze a path for altcoins to expand their use case. Musk did not specify what merchandise, whose prices start from $50 and go as high as $1,900, could be bought with dogecoin.