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28-05-2022|Crypto

Elon Musk claims that SpaceX would soon accept Dogecoin for merchandise, which might lead to Starlink subscriptions.

Elon Musk, the CEO of SpaceX and Tesla, has stated that dogecoin will soon be accepted at Spacex for items in the same way that Tesla accepts DOGE payments. Subscriptions to Starlink can also be purchased with dogecoin "one day."

Dogecoin to be Accepted for Merchandise Soon at Spacex.

Tesla CEO Elon Musk revealed through Twitter on Friday that Spacex will soon accept Dogecoin for items, giving the parody cryptocurrency a boost. "Tesla merch can be bought with DOGE, soon Spacex merch too," the Spacex CEO tweeted.

Furthermore, Musk stated that subscriptions to SpaceX's Starlink service may "one day" be paid with dogecoin. Starlink provides "high-speed, low-latency broadband internet in remote and rural locations around the world,” its website describes.

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.

Musk has long been a backer 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 CEO stated that dogecoin has currency potential, whereas bitcoin is better suited as a store of value.

The CEO of Tesla and SpaceX is currently attempting to acquire Twitter. The purchase is presently on hold while specifics supporting the estimate that spam and false accounts account for less than 5% of the social media platform's users are finalised.

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