Elon Musk said his aerospace company SpaceX will soon accept Dogecoin as a payment option for merchandise, joining Tesla, which has accepted the cryptocurrency since January.
Musk, a frequently vocal supporter of some cryptocurrencies, made the announcement on Twitter, first reiterating that Tesla merch could be bought with the crypto. “Soon SpaceX merch too,” he added.
Tesla merch can be bought with Doge, soon SpaceX merch too
— Elon Musk (@elonmusk) May 27, 2022
Musk, nor SpaceX, announced a concrete date of when it would begin accepting Dogecoin for the merchandise. As of Saturday morning, SpaceX’s merchandise shop still only accepts credit card payments. Shop items are also only listed in dollars by default in the United States, and no cryptocurrency conversions or prices are available for any items in the shop.
Musk also stated that “maybe one day” Starlink users would be able to pay for their subscriptions to the internet service with Doge. Musk did not detail a specific date for this, either.
After the announcement, Doge shot up nearly five percent and is currently trading at $0.081 per coin, and has struggled for several months after reaching peak levels of $0.74 as Elon Musk made his appearance on Saturday Night Live last year.
When Tesla began accepting Doge in January, the crypto also boosted in price considerably before leveling out once again.
Tesla has dabbled with accepting other cryptocurrencies in the past, including Bitcoin. However, Tesla stopped accepting Bitcoin just a few months after it announced it would allow customers to purchase products with the crypto, citing environmental concerns. “We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” Musk said in a Tweet in May 2021. “Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment.”
Tesla started accepting Dogecoin for vehicle purchases in March 2021. It only accepts Dogecoin currently:
“Tesla only accepts Dogecoin. Tesla cannot receive or detect any other digital assets. Ensure you are making your purchase with Dogecoin. Sending any other digital assets may result in the assets being lost or destroyed. Non-Dogecoin digital assets sent to Tesla will not be returned to the purchaser.”
Disclosure: Joey Klender does own $DOGE.
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