SpaceX to start accepting Dogecoin as payment for the company’s merch

After Elon Musk’s tweet, the DOGE rate increased by 9%

29.05.2022 - 06:55

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What’s new? SpaceX will start accepting the meme cryptocurrency Dogecoin (DOGE) as payment for merch. This was announced by the company’s head Elon Musk on his Twitter account. In this, he did not specify when exactly SpaceX will start accepting DOGE. After the tweet was posted on May 27, the Dogecoin rate rose by 9% to $0,085. As of May 28, 14:40 Moscow time, the cryptocurrency is trading at $0,081 (according to Binance).

Tesla merch can be bought with Doge, soon SpaceX merch too— Elon Musk (@elonmusk) May 27, 2022

What else did Musk state? He recalled that Tesla already accepts payment in Dogecoin. When asked if the company will allow a Starlink satellite internet subscription to be paid with DOGE, Musk said, “maybe one day.”

What happened before? In April, Dogecoin developers within the RadioDoge project conducted the first offline transaction using the Libdogecoin protocol and the Starlink satellite network. The Dogecoin Foundation is responsible for implementing the technology and its main goal is to make Dogecoin an international means of payment.

The founder and CEO of the online broker Robinhood, Vlad Tenev, said that Dogecoin could become the “currency of the internet” in the future. For this to happen, developers should increase the block size to 1GB and then up to 10GB. Now the block size is 1MB.

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