DOGE finds support in The Boring Company, a construction and infrastructure company owned by Elon Musk. The corporation will now accept DOGE as a payment currency.
Elon Musk continues to support Dogecoin (DOGE), with his organization called The Boring Company. The corporation has started to accept the asset as a form of payment.
The Boring Company is an infrastructure and construction company created by the billionaire in 2016. It aims to develop a large network of underground tunnels that is financially viable.
According to CNN, the company will be another yet venture of Musk’s that will accept DOGE as a means of payment. Tesla currently supports the meme coin, while SpaceX recently announced that it will adopt the asset.
DOGE as a form of payment
The Boring Company’s customers will be able to use their DOGE to pay for rides on Loop, the company’s underground Las Vegas transit system. Trips will have an individual cost of $1.50 and can also be paid in dollars or by credit card.
For Elon Musk, Dogecoin has great potential to become a currency, even being easier to use in financial transactions than Bitcoin. In fact, the coin has gained a lot of ground in this regard, especially in the United States.
Inside the U.S., you can use DOGE for buying things in a major retail networks, and in several movie theaters across the country. Plus, a political candidate has proposed that the asset should be legal tender currency in California.
Tesla CEO continues to support crypto
By accepting DOGE from one more of his companies, Elon Musk proves he wasn’t lying when he said he would continue to support his favorite cryptocurrency, even with the problems he has faced because of it.
In May, an investor filed a lawsuit against the businessman and his companies for allegedly promoting an asset, which it is said in the lawsuit, was financial pyramid scam. The accuser is asking for a payment of $258 billion for the damages he suffered.
It is worth remembering that the richest man in the world has already faced legal problems related to the process of buying Twitter. However, it seems that this has not shaken his plans.
The cryptocurrency has become known worldwide and has seen its price skyrocket several times in recent years thanks to the entrepreneur’s mentions. This time, it was no different. DOGE has accumulated a 5% increase in the last 24 hours, according to TradingView, reaching a new monthly high above US$ 0.07.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.