Elon Musk’s infrastructure and tunnel building services firm, Boring Company, has allowed support for Dogecoin payments according to a recent report.
Elon Musk has become a household name for anyone with even a passing interest in cryptocurrencies. The business tycoon is known as the most influential Dogecoin advocate and has been shaking up the cryptocurrency industry with his funny tweets with over 100 million Twitter followers.
The Tesla and SpaceX CEO has reaffirmed his commitment to DOGE despite him and his companies Tesla and SpaceX being sued for a racketeering scheme to support meme cryptocurrency Dogecoin.
An American individual named Keith Johnson filed a $258 billion lawsuit against Elon, SpaceX, and Tesla, alleging that the Dogecoin Crypto Pyramid Scheme defrauded him of his money.
The entrepreneur revealed in May that Tesla and SpaceX would begin accepting Dogecoin for their online stores.
Despite the current legal dispute, the business magnate’s other franchise, Boring Company, will now let customers use Dogecoin as a form of payment for Loop rides. The Boring Company builds freight, utility, and transportation tunnels that are secure, quick to dig, and affordable.
Riders simply need to scan a QR code to purchase a ticket. Currently, using Loop is free, but the firm expects to start charging fees in the future. Alternative payment options are available for those who don’t fancy Dogecoin.
The billionaire who is hoping to ferry people to Mars said he will continue to support Dogecoin and that he is increasing his purchases of the parody cryptocurrency in a tweet.
The tweet temporarily increased the value of the meme coin. The largest meme coin continues to see increasing popularity as a result of Elon promoting it with his businesses, but the price isn’t rising and the meme coin is down as much as 90.69 percent from its record high.