Elon Musk has always been an unofficial influencer for the popular meme coin ‘DOGE’. The Tesla CEO confirmed that his firm ‘The Boring Company’ will accept Dogecoin for ‘Las Vegas Transit System Loop’ rides. Musk also tweeted ‘Support Dogecoin whenever possible’.
More about Boring company accepting Dogecoin
The Boring Company was founded in 2016. The firm’s conceptualization came into existence when Elon cited that Los Angeles traffic causes trouble. This is where he gained inspiration and ideated building a transit Loop.
The Boring company founded by Musk will accept Dogecoin for Las Vegas Transit System Loop rides, confirmed by CNN on Wednesday. Tesla, another firm accepts crypto for merchandise purchases and SpaceX will follow along.
Musk once said that Boring is designed to solve vehicle traffic challenges which have been agony for everyone across the globe. Boring’s project ‘Loop’ also known as ‘Tesla in Tunnels’ is an express public commuting system that appears like a highway. It is a zero-emission transportation model as showcased on its official website.
The firm opened the Resorts World Las Vegas passenger station on June 30. The Resorts World Las Vegas stop is the first Loop station outside the Las Vegas Convention Center, which has three stops.
The Loop rides were free up till now but the firm will soon charge a fee of $ 1.50 per ride and $ 2.50 for a day pass. The passengers can pay in fiat or Dogecoin, as reported by CNN. The firm has not given any official status about the ticket price and the charges may vary.
Elon’s association with crypto – an open secret
Elon Musk has been an ardent supporter of some crypto assets like DOGE and BTC. He believes that Bitcoin has a ‘Store of Value’ and with Dogecoin it is otherwise. He has made statements about him having personal investments in DOGE in the past.
In May 2022 Musk announced that SpaceX – a satellite communications corporation, will soon accept Dogecoin for subscription payments. While Musk was in talks with Twitter to buy a large share of the company, he hinted at the integration of crypto assets for payments on Twitter.
A lawsuit of $ 128 billion was filed against Elon’s enterprises Tesla and SpaceX for conspiring a crypto pyramid also called a Ponzi scheme. He shunned these allegations and reiterated that he will stay bullish on the meme coin.
Source: Bitcoin.com
3 times Elon has shown support for Crypto
- Early this year Musk mentioned that the supercharging stations of Tesla will accept payments in DOGE. He is known as the DogeFather for his becoming a proponent of the meme coin.
- On March 24, 2021, Elon tweeted ‘’Now you can buy a Tesla with Bitcoin’. Even though he has been slammed by many for giving contradictory statements on crypto, he still appears to be bullish on DOGE. A page on Tesla’s website explains how an individual can buy a Tesla with crypto. He has twice mentioned that DOGE is people’s crypto on his official Twitter handle.
- In March, Elon took to Twitter to announce that he has brought Bitcoin worth $ 1 billion. He recently tweeted ‘Now you can buy a Tesla with Bitcoin’. Tesla will use open-source software to accept payments. He also added that the firm will operate Bitcoin nodes internally.
Source: Mashable
Amidst the ongoing crypto winter, the adoption of crypto by institutions and businesses will send a ray of hope for the industry. Global Influencers and business tycoons coming forward to promote and adopt crypto could potentially change the market sentiments to positive.
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