Elon Musk confirmed the news on Wednesday that his company called ‘The Boring Company’ (TBC) is now accepting payments in Dogecoin.
TBC accepts Dogecoin for its customers
Elon Musk’s company The Boring Company (TBC) has authorized customers to pay with Dogecoin for rides on its Las Vegas transportation system.
A report from CNBC said the new payment option via BitPay went live on July 1. This is a day after the opening of the new Loop station at the Las Vegas Convention Center.
Although The Boring Company has not officially confirmed the new payment method, founder Elon Musk apparently did. Musk responded the following to a tweet about the news. “We support DOGE wherever possible”.
On the same day, DogeDesigner, a graphic designer for the Dogecoin Foundation, shared a video on Twitter. In this video, he navigated the Vegas Loop page and bought a day pass with 37.52 DOGE through BitPay.
About Vegas Loop
The new Loop station is located at a resort called Resorts World Las Vegas. The station is the fourth stop on the 2.7-mile Las Vegas Convention Center Loop. Using the underground tunnel system, travelers with Teslas can get from one stop to another.
This plan is a far cry from the original plan for the Vegas “hyperloop”. This hyperloop would use magnetic propulsion to move passenger-carrying capsules at high speed through a tunnel system. The company is still working on its future plans for the introduction of driverless vehicles.
Acceptance of Dogecoin
Last December, Tesla CEO Musk announced that the company would accept DOGE for certain merchandise purchases. This caused the price of Dogecoin to rise 25%.
In May 2022, Musk announced his plans to expand the payment option for his company SpaceX. However, this announcement had no significant impact on the price.
Dogecoin is currently worth $0.06851. With that, the currency is up about 1.15% in the past 24 hours.
