SpaceX Considering Dogecoin as Payment Option for Merchandise, Suggests Elon Musk
In a surprising turn of events, tech mogul Elon Musk's companies, Tesla and SpaceX, have been embracing Dogecoin, the popular memecoin, in their transactions. Four months ago, Tesla started accepting Dogecoin for merchandise purchases, marking a significant step for the cryptocurrency. This move was followed by SpaceX's announcement on May 13, 2022, that it would also accept Dogecoin as a payment method for its merchandise. Elon Musk, a long-time supporter of Dogecoin, has been vocal about his admiration for the cryptocurrency since 2019. His pro-DOGE tweets have historically caused an instant and positive impact on Dogecoin's market prices. However, the recent announcements by Tesla and SpaceX did not significantly affect Dogecoin's price amidst the bearish crypto market. Last year, SpaceX made headlines when it launched the Doge-1 Lunar Mission, funded entirely with Dogecoin. This was a first in the space industry, showcasing SpaceX's commitment to the cryptocurrency. Despite the minimal impact on Dogecoin's price, investors tend to cash in on the newly garnered attention from Musk's pro-DOGE tweets. Musk has also hinted at plans to add the payment option for Dogecoin to SpaceX, suggesting that more developments are on the horizon. SpaceX's acceptance of Dogecoin for merchandise might soon extend to other areas, as Musk has been adamantly supporting Dogecoin and its potential use in various transactions. It remains to be seen how this will impact Dogecoin's market prices in the future, especially as the crypto market recovers from its current bearish state. In conclusion, Tesla and SpaceX's acceptance of Dogecoin marks a significant milestone for the cryptocurrency. While the immediate impact on Dogecoin's price has been minimal, the historical influence of Musk's pro-DOGE tweets on the market remains, suggesting that Dogecoin continues to hold potential for growth.
