Home
News
Tesla Boss has made his intentions to extend the payment option for SpaceX, his space exploration company, public. It has been only four months since EV manufacturer Tesla began accepting the popular meme-token Dogecoin (DOGE) for merchandise purchases.
CEO of SpaceX and Tesla, Musk has been an ardent supporter of the popular meme-inspired currency, DOGE since 2019. The billionaire in many instances has shown interest in accepting payments in several meme-currencies across his various multibillion-dollar enterprises.
At the time of writing, Musk’s favorite cryptocurrency DOGE was exchanging hands at $0.081444, down 0.28% in the last 24 hours.
The world’s richest man has influenced the prices of DOGE heavily in the past. The market prices of the meme token usually have a positive impact after Musk’s pro-DOGE tweets.
However, the latest news of SpaceX’s plan to accept DOGE payments failed to significantly impact the DOGE’s prices amid bearish trends in the crypto market.
While the data from TradingView and Cointelegraph Markets Pro reveals that DOGE has fallen by 55% in value between the period 8th and 12th of May.
However, in December when Musk confirmed the news that Tesla will be accepting DOGE for merchandise, then DOGE surged by approx. 25%. At around the same time, the billionaire shared that he believes that DOGE is a better payment option as compared to the flagship currency Bitcoin(BTC).
At the time of writing, Bitcoin was trading at $29,108.71, up 0.96% in the last 24 hours. The flagship currency too suffered miserably after the Terra collapse.
Musk also hinted at the possibility of enabling DOGE payments for Starlink subscriptions. A Twitter user asked, “Will we also be able to pay our Starlink subscriptions via Doge, to Elon?” on May 27th, to which Musk said, “Maybe one day.”
Quite recently, Musk also issued a public warning referring to an ongoing wherein attackers were caught using technology to impersonate the billionaire and promote fabricated crypto-shilling videos.
In the deepfake video, Musk can be seen promoting a cryptocurrency platform boasting 30% returns on crypto deposits.
ALSO READ: OMG Price Analysis: Bearish sentiment of market degrades OMG Coin value
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
