single post img

Musk might eventually allow DOGE payments for Starlink subscriptions if all goes according to plan. He is one of the world’s wealthiest men.

 Elon Musk announced his intent to extend the Dogecoin (DOGE) payment option to his SpaceX firm just four months after Tesla started accepting the cryptocurrency for merchandise purchases.   

SpaceX and Tesla CEO Elon Musk have strongly supported DOGE since 2019 and have since publicly announced plans to accept meme coin payments across his multibillion-dollar businesses. 

Investors try to cash in on the hype due to Musk’s pro-DOGE tweets, which have historically had an immediate and positive impact on DOGE’s market price. As a result of a bearish crypto market, SpaceX’s plan to accept DOGE payments for merchandise did not affect DOGE’s price.

 As of the time of writing, data from Cointelegraph Markets Pro and TradingView indicate that DOGE decreased by over 55% between May 8 and May 13.

 

Also read: The Indian government considers a ‘reverse charge’ tax on foreign crypto platforms.

 

Investors try to cash in on the hype due to Musk’s pro-DOGE tweets, which have historically had an immediate and positive impact on DOGE’s market price. As a result of a bearish crypto market, SpaceX’s plan to accept DOGE payments for merchandise did not affect DOGE’s price.

 As of the time of writing, data from Cointelegraph Markets Pro and TradingView indicate that DOGE decreased by over 55% between May 8 and May 13.

Also read: The Indian government considers a ‘reverse charge’ tax on foreign crypto platforms.

Dogecoin price 1-day chart. Source: TradingView

 

Musk confirmed in December 2021 that Tesla would accept DOGE as payment for merchandise, increasing DOGE’s value by 25%. Using the same timeline, the entrepreneur also revealed that DOGE would be a better alternative payment option for everyday payments than Bitcoin (BTC).

Starlink subscriptions may be able to be paid for in DOGE if things work out as planned. 

 

Also read: Stocks trading against stablecoins to be launched by FTX US

 

Musk issued a public warning to its followers regarding an ongoing scam in which attackers are impersonating the entrepreneur and promoting fabricated crypto-shilling videos using deepfake technology.

Musk’s deepfake video, first published on Twitter, promoted a cryptocurrency platform with a 30 percent deposit interest rate.

 

Read also: Cryptosat launched its first satellite Wednesday in a SpaceX rocket.