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Elon Musk and Dogecoin: Boring Company accepts DOGE

 


A construction and infrastructure company owned by Elon Musk supports the cryptocurrency DOGE. The company now accepts Dogecoin as a form of payment.


Elon Musk is still campaigning for the Dogecoin cryptocurrency . According to the news portal CNN , Musk's The Boring Company (TBC) is now offering its customers the option of paying with Dogecoin.


The Boring Company is another of Elon Musk's companies promoting memecoin . Tesla also already supports Dogecoin. Also, SpaceX recently announced that it would accept the cryptocurrency.


The billionaire founded the infrastructure and construction company in 2016. The company designs and builds large, affordable underground networks and tunnels.


Dogecoin as a means of payment

Boring Company customers can use their DOGE to pay for rides on Las Vegas' underground transit system. A trip costs USD 1.50 and can alternatively be paid for in USD or with a credit card.


Elon Musk explained that Dogecoin actually has the potential to be used like a regular currency, since DOGE is much easier to use than Bitcoin . In fact, the Doge cryptocurrency is already accepted as a form of payment by many businesses , especially in the United States.


For example, you can spend DOGE in the US on some items at major retail chains or in movie theaters across the country. One politician even suggested making Dogecoin legal tender in California.

The fact that another company owned by Elon Musk is accepting Dogecoin shows that he wasn't lying when he stated that he will continue to support his favorite cryptocurrency. Musk was not deterred by the problems involved.


In May 2022, an investor filed a class action lawsuit against Elon Musk and his companies. The investor accuses the companies and Elon Musk of using Dogecoin to deliberately promote a pyramid scheme and enrich themselves from it. The plaintiff sought $258 billion in damages.


In fact , Elon Musk helped Dogecoin become more popular. During the last crypto bull market, the cryptocurrency kept shooting higher after Elon Musk published tweets about the memecoin.

This time, too, the Dogecoin course reacted positively to the news, albeit only for a short time. The DOGE price reached a local high of USD 0.72 shortly after the first news about the Boring Company, but then continued to fall during the day together with the Bitcoin price .


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action that the reader takes based on the information found on our website is entirely at their own risk.

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