Elon Musk’s Boring Company will accept the meme cryptocurrency dogecoin as payment for rides on the Las Vegas transit system Loop, Musk said, “We will support dogecoin whenever possible and support Doge as much as possible,” he confirmed. Tesla already accepts meme crypto for some goods, and Spacex will soon follow suit.
Elon Musk’s Boring Company accepts Dogecoin payments
The Boring Company, founded by Tesla CEO Elon Musk, will accept the meme cryptocurrency dogecoin to ride Loop, Las Vegas’ transportation system, CNN reported Wednesday.
Musk previously said that The Boring Company’s goal is to “solve the traffic that plagues every major city on the planet.” One of the company’s projects is Loop, also called “Teslas in Tunnels”; Loop is a “rapid public transit system that resembles an underground highway more than a subway,” and its website details that the system is zero-emission and all-electric.
Tesla’s CEO tweetedindicating that the news that the Boring Company would accept Doogie coin payments for rides on the Vegas Loop was true. In response to a post about it, he tweeted,“We support the Doge whenever possible.”
The Boring Company opened the Resorts World Las Vegas passenger station on June 30, the first of more than 55 stops planned for the Las Vegas Strip. Clark County, Nevada, approved the company’s expansion plans last year, and the Resorts World Las Vegas stop will be the first Loop station outside of the Las Vegas Convention Center (LVCC), which already has three stops.
According to CNN, there is currently no charge to ride at Loop, but the company plans to charge a fee in the future. The Boring Company’s Las Vegas Loop ticket page shows that tickets can be purchased with dogecoin alongside traditional payment methods, with a single ride costing $1.50, while a day pass will cost $2.50. However, the company has not announced when the fees will begin, and final costs may vary.
Musk has long been a supporter of dogecoin and believes the meme crypto has potential as a currency. In contrast, he has stated that bitcoin is a more valuable store of value. The Tesla boss also previously revealed that he personally owns dogecoin.
His electric car company, Tesla, already accepts dozies for some of its products. Additionally, Musk announced in May that SpaceX would follow suit and that Starlink’s deal could accept meme coins in the future. He also hinted that Twitter would integrate crypto payments if it successfully acquired the social media platform.
In June, a $258 billion lawsuit was filed against Musk, Tesla, and Spacex, alleging that they are “engaging in a crypto pyramid scheme (aka Ponzi scheme) with dogecoin cryptocurrency.” Nonetheless, the Tesla CEO reiterated his intention to continue to buy and support DOGE.
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