Elon Musk, the famous business tycoon who owns The Boring Company has announced that DOGE currency will now be accepted as payment for any products.
Elon Musk continues supporting Dogecoin, a currency which can be used to pay for products from The Boring Company now.
The Boring Company is an infrastructure and construction company that is owned by the billionaire and has created the technology to build large networks of tunnels underground.
Elon Musk’s other company is also accepting DOGE as a form of payment. Tesla currently accepts the digital currency, while SpaceX will be adopting it soon as per CNN.
Use of DOGE as a form of payment
The Boring Company will use DOGE to pay for their $1.50 rides on their Las Vegas transit system, Loop. Passengers can also pay using dollars or credit cards.
Elon Musk, the CEO of Tesla and Space X, has high hopes for Dogecoin to become a currency. He thinks it’s even easier to use than Bitcoin because DOGE is backed by a much shorter transaction time. The coin has gained a lot of ground in the United States, especially.
In the US, in many major retail networks, a movie theatre chain, and by a political candidate, DOGE has been proposed to be a legal tender currency for California.
Elon Musk is still supporting crypto
Elon Musk does not seem to be shying away from supporting DOGE, considering that he accepted it from one of his own companies.
An accuser filed a lawsuit against a businessman in May, seeking $258 trillion for damages he suffered. The accuser claims that the assets were a financial pyramid scam.
It is worth remembering that a lawsuit has already been filed against the wealthiest man in the history of the world over an allegation of buying Twitter. He doesn’t seem to be shaken by this setback though and as we know, he has plans to buy Twitter.
DOGE’s price has increased 5% in the last 24 hours, reaching a new monthly high of US$0.07. Due to an entrepreneur mentioning DOGE, many traders started to invest and it became well-known worldwide.
