Boring Company, Elon Musk’s company, will accept dogecoin meme currency as payment for rides on the Loop transit system in Las Vegas. Musk said that he supports Doge whenever possible. Tesla accepts the meme cryptocurrency for some merchandise, and Spacex will soon do so.
CNN reported Wednesday that Tesla CEO Elon Musk founded The Boring Company. He will accept the meme cryptocurrency dogecoin to ride on Loop, his Las Vegas transit system.
Musk stated that The Boring Company’s goal was to “solve traffic, which plagues all major cities on Earth,” previously. Loop’s website details that it is an electric, zero-emissions system.
In response to a tweet, the Tesla CEO stated that The Boring Company plans to accept dogecoin for rides on its Vegas Loop. He tweeted, “Supporting Dove whenever possible”, in response to the post.
On June 30, The Boring Company opened Resorts World Las Vegas’ first passenger station. This was the first of more than 55 stops planned for Las Vegas Strip. Clarke County, Nevada approved the company’s expansion plan last summer. The Resorts World Las Vegas station is the first Loop station besides the Las Vegas Convention Center, which already has three stops.
According to CNN, Loop rides are free at the moment but the company will soon charge a fee. According to the Boring Company’s Las Vegas Loop ticket webpage, tickets can be bought with dogecoin along traditional payment options. A single ride will cost $1.50 while a day pass will run $2.50. The company hasn’t yet announced the exact fees and may change the final cost.
Musk is a long-time proponent of dogecoin and believes that the meme crypto has potential to be a currency. He said that bitcoin was more of a store value. He also revealed previously that is his personal dogecoin.
His electric car company Tesla already allowsDOGE to purchase some merchandise. In May, Musk also announced that Spacex would follow suit and Starlink subscribers may accept the meme currency in the future. Musk also suggested that Twitter will accept crypto payments , if he is successful in his bid to buy the social media platform.
A $258 billion lawsuit was filed in June against Musk, Spacex, and Tesla. It claimed that they were “engaged in a crypto pyramid scheme,aka Ponzi scheme by way of dogecoin cryptocurrency.” However, the Tesla CEO reiterated his intent to continue buying and supporting DOGE.