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Elon Musk reveals SpaceX will soon accept Dogecoin (DOGE) as a payment method

SpaceX, Elon Musk’s space exploration company, will soon accept Dogecoin as payment for goods, along with Musk’s other company, Tesla.

On the evening of May 27, billionaire Elon Musk suddenly announced that SpaceX, the aerospace company he built, was about to accept Dogecoin (DOGE) payments for souvenirs. The world’s richest businessman also does not rule out the possibility of doing the same with Starlink, a satellite Internet service company that he also owns.

Tesla goods can be purchased with Doge, so will SpaceX goods soon.”

Immediately, the price of Dogecoin skyrocketed after the announcement. At 11:24 a.m. ET (three minutes before the tweet), the meme was trading at $0.078, according to CoinGecko. By 11:50 am, it had increased to 0.09 USD, an increase of about 17%. However, the Dogecoin price is now down to around $0.080.

Before that, DOGE was also accepted by another Musk company, electric car company Tesla, to buy items in the Shop such as clothes, accessories and souvenirs. However, Tesla has yet to accept DOGE to directly buy its electric cars like it did with Bitcoin.

Tesla is currently maintaining a $1.3 billion investment in BTC even though it no longer supports the world’s largest cryptocurrency because of the “environmental issue” of Proof-of-Work mining. Elon Musk himself has confirmed that he will maintain his BTC investment to “prevent inflation.”

In May 2002, SpaceX announced that it would host a mission to put the satellite into lunar orbit, funded entirely by DOGE by Geometric Energy Corporation. Scheduled for Q1/2022, however, there is no new information on the status of this DOGE-1 mission so far.