(CTN News) – Elon Musk, the CEO of SpaceX, recently announced that his aerospace firm will soon be able to accept cryptocurrency- Dogecoin in particular. In a tweet posted on May 27, Musk said that SpaceX products will also be available to crypto-traders. However, he did not specify a specific date when the products would be available. Merchandise for Tesla and SpaceX can be purchased with Doge, the billionaire tweeted.
Dogecoin was created by Oregon-based Billy Markus and Sydney-based Jackson Palmer in the form of a meme and quickly became one of the most popular cryptocurrencies. Musk’s favorite cryptocurrency may even be Dogecoin. Tesla announced in December last year that Dogecoin would be accepted as payment for its merchandise. Tesla will make some merchandise available for purchase with Doge, Musk tweeted last December.
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Dogecoin jumps 10% following Musk’s tweet
As Coindesk reports, Musk, who is known for disrupting the market with his tweets, did it again with Dogecoin’s price rising more than 10% to nearly 9 cents immediately after the billionaire’s announcement. Although the hike was short-lived, it was trading at $0.08239, up by 1.14% on Sunday. As of May 30, the price has increased by 2.05% to USD 0.085. A ‘Dogecoin wallet’ is used by crypto holders to make transactions using Dogecoin. Dogecoin currently has a market cap of around $10.9 billion. Dogecoin wallets facilitate the transfer of the cryptocurrency and allow transactions between parties.
Dogecoin for Twitter?
Tesla’s CEO, who is currently midway through a Twitter buyout, had proposed major changes to the social media platform’s policies, including accepting Dogecoin. In a series of tweets, he talked about how Twitter should charge for its subscription membership, saying that the fee “should be proportionate to affordability and in local currency.” Furthermore, he referred to Dogecoin saying, “Maybe even an option to pay in Doge?”. Currently, the billionaire is dealing with a lawsuit after shareholders of Twitter sued him for handling a disorganized acquisition process that is still ongoing and which has led to volatility in Twitter’s stock price.
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