Tesla and SpaceX CEO Elon Musk continues to show support for Dogecoin, one of the billionaire’s firms, The Boring Company, allowing customers to pay for loop rides with Memecoin.
- According to CNN on Wednesday (July 6, 2022), the infrastructure and tunnel construction firm, The Boring Company, first announced the Dogecoin payment option on July 1.
- When customers ride using Tesla vehicles on the company’s Las Vegas transit system called Loop they will be able to pay with crypto.
- Loop rides travel at 35 mph (mph) against the original 150mph. Passengers will pay $1.50 for a single ride, while customers can purchase a day pass for $2.50. Additionally, riders not wishing to pay with DOGE can pay in US dollars or by credit card.
- Meanwhile, rides are currently free for passengers using the Loop, with the fee coming in at a later date. In addition, there are plans to build more than 50 additional stations on the Vegas Strip, with the opening of the first Loop station already outside the Las Vegas Convention Center.
- Back in May, Elon Musk announced that his space exploration firm SpaceX would soon join electric vehicle manufacturing giant Tesla to accept DOGE payments for goods.
- The latest development indicates Musk’s unwavering support for Dogecoin, despite a $258 billion lawsuit being filed recently against the billionaire and his companies, Tesla and SpaceX.
- An aggrieved DOGE investor filed a lawsuit against Musk, accusing the entrepreneur of promoting a token that the plaintiffs describe as a pyramid scheme. At the time of writing, Dogecoin is down 90% from its all-time high of $0.73 recorded in May 2021.
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