Elon Musk Teases SpaceX Could Start Accepting Doge as Payment for Merch & Starlink

Elon Musk Teases SpaceX Could Start Accepting Doge as Payment for Merch & Starlink

Elon Musk is teasing that SpaceX may start accepting DOGE as payment at its merch store and possibly Starlink. This comes after the Dogecoin roadmap mentions cooperation with SpaceX.

On Monday, Tesla and SpaceX CEO Elon Musk hinted that SpaceX and its Starlink might start accepting DOGE as payment for their merch and services. Starlink is a broadband internet service provided by SpaceX. Although the head of the company did not directly write about it, commenting on Johnna Crider's idea that the SpaceX merch store and Starlink could start accepting Doge, he left a response in the form of a winking emoji. This hinted that the company might not just be thinking about it, but the project might already be in development. Implementing payments in DOGE should not be a big deal, as another Musk company, Tesla, also accepts cryptocurrencies as payment for some merchandise.

The head of SpaceX is a longtime supporter of DOGE. He believes that the meme coin is the best option for fast transactions. Musk explained that BTC is the main engine in the crypto market, but the volume of transactions is small and their cost is high. Therefore, BTC can function as a store of value at its basic level, but is not suitable for daily use and the purchase of various goods. Therefore, DOGE, which was originally created as a joke, is better suited for transactions. The transaction flow of the coin is higher than BTC as it can process more transactions per day. Musk agreed that DOGE is slightly inflationary but argued that its inflationary number is fixed, and the percentage is not. With this theory, he believes the percentage of inflation decreases over time, encouraging people to spend DOGE instead of hoarding it as a store of value.

In addition, published in December, the DOGE roadmap reveals some details of cooperation with SpaceX. Among the goals mentioned in the roadmap include radio, Starlink-based Dogecoin nodes, and a point-of-sale app produced in partnership with a yet-to-be specified Layer 2 project. The faith of the head of Tesla and SpaceX in Dogecoin turns out to be wider than one might have expected, and he comprehensively contributes to its development.

┬ę 2022, Eva Fox | Tesmanian. All rights reserved.


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About the Author

Eva Fox

Eva Fox

Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.

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