SpaceX has brought about yet another win for the cryptocurrency ecosystem, as the company has announced that it now accepts DOGE for payments of their merch. This comes as many critics of crypto have continued to denounce the lack of use cases for cryptocurrencies. SpaceX is helping to bring about more varieties of use for crypto by allowing it more practical applications.
Elon Musk, the CEO of SpaceX, has long been a major financial figure that is bullish and on crypto. For a long time now, Musk has been outspoken about the need to adopt cryptocurrency around the globe.
The news out of SpaceX comes nearly four months after Tesla announced their merchandise can be purchased with DOGE. Elon Musk is very bullish on DOGE, which can be seen through his tweets in support of the coin throughout the past year. He can be seen tweeting in support of the meme coin on his Twitter page and hinted earlier in the month that he might add DOGE as a means of payment for a Starlink subscription.
However, data from Cointelegraph Markets Pro and TradingView show that DOGE lost over 55% in value between May 8 and May 13. This shows that the announcement did not in any way influence the price of DOGE in the crypto market.
Musk has, however, warned his supporters to beware of scammers posing as him on social media and giving cryptocurrency advice or shilling a project.
More companies will likely go the route of Tesla and Starlink in offering cryptocurrency as a means of payment. This is demonstrated further through the entrance of Moneygram into the cryptocurrency industry and Tether into Mexico, and even more markets and opportunities are emerging daily.
With the planned regulation of cryptocurrency by G7 finance ministers and central bank heads, it’s a matter of when, and not if, cryptocurrency will be adopted by many other corporations.
Featured Image: Megapixl © Jirkaejc
