It looks like Elon Musk's love for Dogecoin (DOGE) is rubbing off on The Boring Company.

The company, which is currently working on an underground transit system in Las Vegas, has announced that it will now accept DOGE as payment for rides. Customers will be able to use their DOGE to pay for rides on Loop. Trips will have an individual cost of $1.50 and can also be paid in dollars or by credit card.

In response to news of the announcement, Musk stated that he's "supporting Doge wherever possible." 

This is not the first time that Musk has accepted cryptocurrency as payment for his company’s products or services. In March, Tesla began accepting Bitcoin as payment for its cars.

Dogecoin has seen a surge in popularity in recent months due in part to Musk's support. The value of the cryptocurrency has skyrocketed, and it is now the fourth-largest cryptocurrency by market capitalization.

Las Vegas Loop

The Boring Company's Las Vegas Loop is a high-speed transportation system that will use electric vehicles to transport passengers around the city.

The first Loop station opened last Friday, but the company plans to have a total of 51 stations in a 29-mile tunnel network under the city. The system is designed to ferry passengers in Tesla cars up to 150 miles per hour.

It was constructed in under one year and had 1.7 kilometers of tunnels. According to the corporate website, the tunnel system costs $47 million to develop and cuts a cross-campus walk that usually takes 45 minutes to about two.

The Boring Company was founded by Elon Musk, the CEO of Tesla and SpaceX. They has been testing its technology in Hawthorne, California. It has also been selected by the city of Chicago to build a high-speed transit system from O'Hare International Airport to downtown Chicago.

The Company's acceptance of Dogecoin is a sign of the growing mainstream adoption of cryptocurrency. It is also a boost for the Dogecoin community, which has been working to increase the coin's visibility and utility.

With this latest development, it is clear that Elon Musk and his companies are committed to supporting Dogecoin and its community.

Do you think their decision to accept Dogecoin is a major boost for the currency and could help it gain even more mainstream adoption in the future?

Source:

https://decrypt.co/104535/elon-musk-boring-company-dogecoin

Posted 
Jul 8, 2022
 in 
Crypto News
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