Billionaire and SpaceX chief executive Elon Musk is once again publicizing his support for leading memecoin Dogecoin (DOGE).
The 2021 TIME Magazine Person of the Year says his space transportation and aerospace manufacturing company, SpaceX, will soon accept DOGE as payment for select merchandise.
[adinserter block="1"]“Tesla merch can be bought with Doge, soon SpaceX merch, too.”
Tesla, Musk’s electric car company, started allowing customers to purchase merchandise with the popular memecoin in January.
Shortly after Musk’s SpaceX announcement, Dogecoin shot up from $0.078 to a high of $0.0841 for a nearly 8% increase in a matter of hours. The 10th-ranked crypto asset by market cap has since retraced to $0.081 but is still up more than 6% in the past 24 hours.
Dogecoin remains down more than 41% in the past 30 days, however.
Musk, a crypto holder himself, has previously said he owns Bitcoin (BTC), Ethereum (ETH), and DOGE.
He says he is a supporter of Dogecoin because he believes it is “the people’s crypto.”
“Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own DOGE. They aren’t financial experts or Silicon Valley technologists.
That’s why I decided to support Doge – it felt like the people’s crypto.”
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Fariza Abdurrazaq/MrArtHit
