The Boring Company, a tunnel construction company owned by Elon Musk, now accepts payment in Dogecoin (DOGE).
Elon Musk firmly believes in the potential of Dogecoin (DOGE). From now on, The Boring Company, which belongs to the famous billionaire, accepts payments in DOGE.
The Boring Company is an infrastructure and tunnel construction company founded by Elon Musk in 2016. It aims to develop an extensive network of financially viable underground tunnels.
According to CNN, the company will start accepting DOGE as payment. As a reminder, Tesla already accepts payments in DOGE, while SpaceX plans to follow in its footsteps in the near future.
DOGE: a payment method with great potential, according to Elon Musk
Customers of The Boring Company will soon be able to use their DOGE to pay for rides on Loop, the company’s underground Las Vegas transportation system. The trips will have an individual cost of $1.50 and can also be paid for in dollars or by credit card.
Elon Musk believes that Dogecoin has great potential to become a currency, and is even easier to use in financial transactions than Bitcoin. Indeed, the same corner has been very successful, especially in the country of Uncle Sam.
In the United States, you can use DOGE to make purchases at major retail stores and several movie theaters. A political candidate has even offered to make the token legal tender in California.
By accepting DOGE into one of his other ventures, Elon Musk is fulfilling the promises he gave to his favorite crypto project. This, despite the problems he faced because of his support for Dogecoin.
In May, an investor filed a lawsuit against Elon Musk and his companies for “promoting an asset”, which the lawsuit said “was a financial pyramid scheme”. The plaintiff seeks payment of $258 billion in compensation for the damages it has suffered.
Recall that the richest man in the world also encountered legal troubles during the process of buying Twitter. However, he seems determined to see his plans through.
Thanks to the unfailing support of Elon Musk, Dogecoin has attracted investors from all over the world and reached unprecedented heights with outstanding visibility. After The Boring Company’s announcement, DOGE’s price rose 5% in the past 24 hours. According to TradingView, the asset hit a new monthly high of over $0.07.
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