Elon Musk, Spacex CEO and Tesla CEO has stated that Spacex will soon accept dogecoin for merchandise. This is similar to Tesla accepting DOGE payments. Furthermore, Starlink subscriptions may also be paid with dogecoin “one day.”
Spacex will Soon accept Dogecoin to Merchandise
Dogecoin was given a lift Friday by Elon Musk (Tesla CEO) tweeting that Spacex would soon allow the use of the meme cryptocurrency to purchase merchandise. The Spacex boss tweeted: “Tesla merch can be bought with DOGE, soon Spacex merch too.”
In addition, Musk said that Spacex’s Starlink subscriptions may “one day” be paid with dogecoin. Starlink provides “High-speed, low-latency broadband internet in remote and rural locations across the globe,” its website describes.
Following Musk’s tweet about Spacex accepting dogecoin, the price of the meme cryptocurrency spiked. DOGE traded at $0.078399 per token as of Musk’s tweet. This quickly increased by more then 8%, to $0.084927. The gains were quickly lost by the meme coin, which is now trading at $0.081469.
Tesla started accepting dogecoin payments for certain merchandise in January. The electric car manufacturer currently does not accept any other cryptocurrency. Although the company previously accepted bitcoin as payment for its products, it stopped doing so due to environmental issues. Musk declared in June 2017 that Tesla would resume accepting bitcoin once the miners are able to confirm at least 50% of their clean energy use. He has not yet to return to the topic.
Musk is a long-standing supporter for dogecoin. The Dogefather is his name in crypto circles. Spacex, Tesla’s boss, previously disclosed that he owned bitcoin, Ethereum, and Dogecoin. Spacex is the only owner of bitcoin. In April, Tesla’s balance sheet shows $1.26 billion in digital assets.
Spacex Chief said that while bitcoin can be used as a reserve of value, dogecoin could have potential as a money.
Tesla CEO and Spacex CEO are currently trying to purchase Twitter. However, the deal is currently put on hold pending details supporting the calculation that spam and fake accounts represent less than 5% of the social media platform’s users.
What do you think about Elon Musk’s announcement that Spacex will soon accept dogecoin and Starlink subscriptions could follow? Comment below.
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