Just four months after electric car maker Tesla began accepting Dogecoin (DOGE) for commercial product purchases, Elon Musk has approved a plan to expand payment option for space exploration company SpaceX. Here are the details…
Elon Musk confirms DOGE adoption for SpaceX
CEO of SpaceX and Tesla, Musk has been a staunch supporter of the DOGE ecosystem since 2019 and has since made billions of dollars has publicly expressed interest in accepting meme token payments at its businesses. Historically, Musk’s pro-Dogecoin tweets have had an immediate and positive impact on DOGE’s market prices as investors try to monetize the excitement. However, the recent disclosure regarding SpaceX’s plan to accept DOGE payments for goods had no significant impact on price amid a bearish crypto market.
In December 2021, DOGE gained 25 percent after Musk confirmed that Tesla would accept DOGE for its commercial products. During similar timelines, the entrepreneur has expressed his belief that DOGE is a better day payment option compared to Bitcoin (BTC). If things go as planned by the world’s richest man, Musk may finally start allowing DOGE payments for Starlink subscriptions.
DOGE payments expand
Earlier this year, Musk continued to throw his weight behind the project. Musk suggested two months ago that if Twitter didn’t support freedom of expression, he might have to consider developing a decentralized social media platform that would use Dogecoin. However, Musk now plans to develop a decentralized social media platform, as the Tesla executive has been given approval to take a 100 percent stake in Twitter.
In addition to Musk’s acceptance of Dogecoin, cryptocurrencies currency has become increasingly popular with online traders as it continues to be accepted as a payment method. As reported, DOGE is currently accepted as a payment method in ten publicly traded companies in the United States.
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