Elon Musk says, "Tesla will accept Dogecoin as payment for merchandise."

Elon Musk, the CEO of Tesla Inc, announced that it will accept dogecoin as payment for items for a limited time as a test.

In a tweet, Musk wrote, "Tesla will make some merch buyable with Doge and see how it goes."

Meme-based cryptocurrency dogecoin witnessed a massive 20 percent spurt in its value after Musk's announcement

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Musk's cryptocurrency tweets, including one in which he referred to it as the "people's crypto," have helped dogecoin rise 5,859% in the last year.

Musk did not specify what merchandise, which starts from $50 and goes as high as $1,900, could be bought with dogecoin

In a recent interview with Time magazine, Musk said that Dogecoin is better for transactions as compared to Bitcoin

Musk, had already asked his followers on twitter in May that if they wanted Tesla to accept dogecoin in a Twitter poll.

Tesla sells a number of products, including 'Giga Texas' belt buckles , mini models of its vehicle. Also limited items like Cyberwhistle and cyberquad for kids