Elon Musk’s Boring Company to Accept Dogecoin Payments for Loop Rides.

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The Boring Company, founded by Tesla CEO Elon Musk, will accept the meme cryptocurrency dogecoin for rides on Loop, its Las Vegas transit system, CNN reported Wednesday.

Elon Musk’s Boring Company will accept the meme cryptocurrency dogecoin as payment for rides on its Las Vegas transit system Loop. Musk confirmed that he is “supporting Doge whenever possible.” Tesla already accepts the meme crypto for some merchandise and Spacex will soon follow suit.

Boring Company to Accept Dogecoin
Twitter: @elonmusk

Musk previously said that The Boring Company’s goal “is to solve traffic, which plagues every major city on Earth.” One of the company’s projects is Loop, also known as “Teslas in Tunnels.” Loop is “an express public transportation system that resembles an underground highway more than a subway system,” its website details, adding that the system is all-electric with zero emissions.

The Tesla CEO indicated that the news of The Boring Company’s plan to accept dogecoin payments for rides on its Vegas Loop is true by tweeting, “Supporting Doge whenever possible,” in response to a post about it.

RELATED ARTICLE: Dogecoin reaches a new astonishing record of 520,000+ Holders.

The Boring Company opened the Resorts World Las Vegas passenger station on June 30, the first of over 55 stops planned for the Las Vegas Strip. Clarke County, Nevada, approved the company’s expansion plan last year. The Resorts World Las Vegas stop is the first Loop station outside the Las Vegas Convention Center (LVCC).

Musk has long been a proponent of dogecoin, believing that the meme crypto has potential as a currency. In contrast, he said bitcoin is more of a store of value. The Tesla boss also previously revealed that he owns dogecoin.

Boring Company to Accept Dogecoin
Elon Musk

His electric car company, Tesla, already accepts DOGE for some merchandise. Moreover, Musk announced in May that Spacex will follow suit and Starlink subscriptions may also accept the meme coin in the future. He also hinted that Twitter will integrate crypto payments if his takeover bid for the social media platform is successful.

In June, a $258 billion lawsuit was filed against Musk, Tesla, and Spacex alleging that they “are engaged in a crypto pyramid scheme (aka Ponzi scheme) by way of dogecoin cryptocurrency.” Nonetheless, the Tesla CEO reiterated his intention to keep buying and supporting DOGE.

In the past, when the cryptocurrency markets were trending up, Musk’s tweets in support of Dogecoin would send it rallying up. However, this time around, the price of $DOGE stayed rather stagnant. Musk’s influence is slowly fading away, and market participants aren’t as hyped about Dogecoin as they once were.

RELATED ARTICLE: Elon Musk Accepting Dogecoin in Starlink?

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Posted by Yuvi
Co-founder of Xryptonation.com, Senior Author, Editor, Blockchain Expert.
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