SpaceX to accept Dogecoin for payments of merchandise soon, announces Elon Musk

SpaceX CEO Elon Musk recently announced that merchandise for his aerospace company can soon be bought with cryptocurrency- Dogecoin in particular. In a tweet posted on May 27, Musk said that just like Tesla, SpaceX products will also be open for sale to crypto-trers, however, he did not specify a particular date as to when products will be available. "Tesla merch can be bought with Doge, soon SpaceX merch too", billionaire tweeted.

Dogecoin was created by Oregon-based Billy Markus and Sydney-based Jackson Palmer as a meme and soon emerged as one of most popular cryptocurrencies. Some might even say that Dogecoin has grown into Musk's favourite cryptocurrency. It was in December last year when billionaire announced that his electric car-maker would accept Dogecoin as payments for Tesla merchandise. "Tesla will make some merch buyable with Doge & see how it goes", Musk tweeted last December.

Dogecoin jumps 10% following Musk's tweet

Musk, who is known to disrupt market with his tweets, did it again as Dogecoin's price jumped much as 10% to nearly 9 cents right after billionaire's announcement, as per Coindesk. hike, however, was short-lived as it was tring at $0.08239, up by 1.14% on Sunday. As of May 30, price stands at USD 0.085 which is still a 2.05% increase. Dogecoin currently has a total market valuation of around $10.9 billion and crypto holders can make transactions using a 'Dogecoin wallet'. A Dogecoin wallet is what supports transfer of cryptocurrency and enables transactions between two parties. 

Dogecoin for Twitter?

Tesla CEO, who is currently mid-way on his Twitter buyout, h suggested major policy changes on social media platform including accepting Dogecoin. In a thre of tweets, he talked about how Twitter should charge for its subscription membership, saying fee "should be proportionate to affordability and in local currency". He furr referred to Dogecoin ding "Maybe even an option to pay in Doge?" Currently, billionaire is dealing with a lawsuit after shareholders of Twitter sued him for handling a disorganised acquisition procedure that is still going on and that has led to volatility in company's stock price.