$ 83,340.9
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$ 125.64
May 28, 2022
Dogecoin Spiked 15% as Elon Musk Says SpaceX Will Soon Accept it for Merch Payments
Elon Musk, the CEO of SpaceX, has stated that the company will soon accept Dogecoin as a means of payment. Musk's previous comments had caused the famous meme coin to skyrocket in value in a short amount of time on other occasions. This time, Bitcoin jumped over 15% when the news came, but it quickly gave back the majority of its gains.
The self-proclaimed Dogefather doubled back on his conviction in the parody coin, declaring on Twitter that SpaceX, another enterprise he helmed as CEO, will soon accept Dogecoin as a payment option.
He tweeted:
“Tesla merch can be bought with Doge, soon SpaceX merch too.”
Musk, on the other hand, did not say when the payment option will be available to the general public.
"Maybe one day," Musk said when asked if SpaceX will allow consumers to pay for Starlink internet connections using Dogecoin.
Last May, SpaceX accepted Dogecoin as full payment for the "DOGE-1 Mission to the Moon," a lunar mission.
Musk noted that “Dogecoin would become the first cryptocurrency in space.”
As of this writing, the largest meme coin by market cap is trading slightly below $0.08, with the news's initial gains mostly wiped out.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Prabhjeet Bhatla is a cryptocurrency writer covering startups and a researcher since 2020. She has authored many articles for Entrepreneur India and APAC (digital and print) on cryptocurrency and ever-evolving Blockchain, the technology behind Bitcoin, and other cryptocurrencies. She specializes in applied cryptography, privacy-enhanced information storage systems, anonymous cryptocurrencies, elliptic curve crypto-systems, and satellite television piracy.