Elon Musk Says Spacex Will Soon Accept Dogecoin for Merchandise – Tesla CEO Elon Musk revealed through Twitter on Friday that Spacex will soon accept Dogecoin for merchandise, giving the meme cryptocurrency a boost. “Tesla merch can be bought with DOGE, soon Spacex merch too,” the Spacex boss tweeted.
Furthermore, Musk stated that subscriptions to SpaceX’s Starlink service may “one day” be paid with dogecoin. According to their website, Starlink provides “high-speed, low-latency broadband internet in remote and rural locations around the world.”
Also Read: Binance to Advise Kazakhstan on Crypto Regulations
The price of the meme cryptocurrency skyrocketed after Musk’s tweet about SpaceX accepting dogecoin. DOGE was trading at $0.078399 per coin at the time of his tweet. It immediately climbed to $0.084927, a gain of more than 8%. The meme coin, however, quickly lost most of its gains and is now trading at $0.081469.
Tesla began accepting dogecoin payments for some products in January, but it presently does not accept any other cryptocurrencies. Due to environmental concerns, the company no longer accepts bitcoin as payment for products. Musk stated in June of last year that Tesla will resume accepting BTC whenever miners can demonstrate that they are using 50 percent clean energy. He has not, however, returned to the subject.
Also Read: SEC Drops the Ball on Crypto Regulation and There Are Long-Term Consequences, Says Commissioner
Musk has always been a supporter of the dogecoin cryptocurrency. In the crypto community, he is known as the Dogefather. Tesla’s CEO previously admitted to owning bitcoin, ether, and dogecoin. Spacex, on the other hand, solely owns bitcoin. Tesla reported $1.26 billion in digital assets on its balance sheet in April.
In May, the Spacex Chief stated that dogecoin has currency potential, whereas bitcoin is best suited as a store of value.