Boring Company intends to Accept Dogecoin as payment to use its Las Vegas transit system, Loop. Elon Musk, the founder, confirmed this by commenting on a tweet written by a Dogecoin-focused Twitter account that made the announcement. In his reply, Musk stated that “Supporting Doge whenever possible,” in response to a post about it.
Boring Company is an organization created by Elon Musk “to solve traffic, which plagues every major city on Earth.”
Though it is a relatively new company, The Boring Company has attracted the attention of global investors. In April, the organization announced via its Twitter page that it “raised $675M at a $5.675B valuation from A-list investors.”
This is not the first time that organizations linked to Musk are accepting Dogecoin. In the past, the CEO of Tesla and SpaceX announced that the electric vehicle company would accept Doge for some merchandise, while it is expected that SpaceX does the same in the future.
On June 30, the Boring Company opened the Resorts World Las Vegas passenger station, which was approved by the authorities the preceding year. At the moment, individuals can use the Loop for free, though this is expected to change in the future. Once payments are accepted, it is expected that Doge will be one of the payment options available.
The current lawsuit that Elon Musk currently faces has not stopped him from accepting Dogecoin or supporting the cryptocurrency. Musk and his companies, Tesla and SpaceX face a $258 billion lawsuit for allegedly using Doge to promote a Ponzi scheme.
If you would like to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, and Instagram.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
