Following in the footsteps of Tesla, Elon Musk has confirmed that it will soon be possible to purchase SpaceX merchandise using Dogecoin.
Holders of Dogecoin will soon be able to spend their cryptocurrency on SpaceX merch, according to Elon Musk. Over the past couple of years, Dogecoin has increased in popularity, and in no small part thanks to endorsements from celebrities and popular figures like Musk. Although using the coin for purchases is still somewhat limited compared to Bitcoin, SpaceX will add to the list of options for spending Doge.
Cryptocurrencies are not having the best of years this year. Due to various factors, including shortages, inflation concerns and geopolitical tensions, the value of many cryptos has decreased significantly in 2022. Dogecoin was one of those that affected, placing it further away from hitting its eventual goal of reaching $1 per coin. Still, Dogecoin tends to see a temporary spike in value each time Elon Musk references the crypto.
That’s actually what has happened today after Elon Musk tweeted to confirm that it will soon be possible to buy SpaceX merchandise with Dogecoin. Following the announcement, the value of Dogecoin increased to 0.084 USD. As is often the case with a Tweet, the information provided was very limited and so it remains to be seen exactly when the SpaceX store will start accepting Dogecoin or which products will be available to buy using the crypto. In a follow-up Tweet, Musk also hinted at the possibility of using Dogecoin to pay for a Starlink subscription.
Tesla merch can be bought with Doge, soon SpaceX merch too
— Elon Musk (@elonmusk) May 27, 2022
Musk’s Support For Dogecoin Continues To Grow
The move for SpaceX to start accepting Dogecoin is not totally surprising considering Musk made a similar move earlier in the year when Tesla also started accepting Dogecoin as a method of payment. With SpaceX set to join Tesla, the network of Musk companies supporting Dogecoin continues to grow. Whether that also means some of the other companies owned by Musk will follow suit remains to be seen, but it is a possibility.
It is worth noting that the Tesla store doesn’t outright support Dogecoin. In other words, not every product that’s available to buy through the store can be paid for in Doge. Instead, select items are listed specifically as ‘pay with Doge’ items while the majority still requiring the payment to be made by a traditional payment option. It would seem likely that the SpaceX adoption of Dogecoin will follow a similar pattern. Regardless of how widespread the use of Dogecoin in the SpaceX store will be, it will still be another option for those holding Doge in their digital wallet to spend the cryptocurrency.
Source: Elon Musk/Twitter
About The Author
