Elon Musk said his aerospace company SpaceX will soon accept Dogecoin as a payment option for goods, joining Tesla, which has been accepting the cryptocurrency since January.
Musk, a frequently vocal proponent of certain cryptocurrencies, made the announcement on Twitter, first reiterating that Tesla merchandise could be purchased with crypto. “Soon SpaceX merch too,” he added.
Tesla merch can be purchased with Doge, soon SpaceX merch too
— Elon Musk (@elonmusk) May 27, 2022
Neither Musk nor SpaceX have announced a concrete date when they will begin accepting Dogecoin for merchandise. As of Saturday morning, SpaceX’s merchandise store still only accepts credit card payments. Store items are also only listed in US dollars by default, and no cryptocurrency conversions or prices are available for store items.
Musk also said that “Maybe one day“Starlink users could pay for their internet service subscriptions with Doge. Musk also did not specify a specific date for this.
Following the announcement, Doge jumped nearly 5% and is currently trading at $0.081 per coin, and has struggled for several months after hitting record highs of $0.74 as Elon Musk appeared on Saturday Night Live Last year.
When Tesla started accepting Doge in January, the price of the crypto also rose significantly before leveling off again.
Tesla has tried to accept other cryptocurrencies in the past, including Bitcoin. However, Tesla stopped accepting Bitcoin just months after announcing that it would allow customers to purchase products with crypto, citing environmental concerns. “We are concerned about the increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of all fuels,” Musk said in a Tweet in May 2021. “The Cryptocurrency is a great idea on many levels and we think it has a bright future, but it can’t come at the expense of the environment.
Tesla began accepting Dogecoin for vehicle purchases in March 2021. It currently only accepts Dogecoin:
“Tesla only accepts Dogecoin. Tesla cannot receive or detect other digital assets. Please ensure that you are purchasing with Dogecoin. Sending any other digital assets may result in loss or destruction of the assets. Non-Dogecoin digital assets sent to Tesla will not be returned to the buyer.
Disclosure: Joey Klender owns $DOGE.
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