On Wednesday, Elon Musk supports Dogecoin
On Wednesday, Elon Musk seemingly confirmed the breaking news in a tweet that supported Dogecoin.
The Boring Company (TBC), the tunnel construction business of Elon Musk, has begun accepting Dogecoin as a payment method for its Las Vegas transit system.
A July 6 CNBC report said that the new payment option via Bitpay appeared on Friday, a day after the opening of its new Loop station at the Las Vegas Convention Center.
While the Boring Company has not officially confirmed the new payment method, founder Elon Musk seemingly did when he responded to a tweet about the news, saying: "Supporting Doge wherever possible."
Supporting Doge wherever possible— Elon Musk (@elonmusk) July 6, 2022
On the same day, DogeDesigner, a graphic designer for Dogecoin Foundation, posted a video with him navigating through the Vegas Loop booking page and making a purchase of a day-pass using 37.52 DOGE via BitPay to his 13,600 Twitter followers.
EXCLUSIVE: The Boring Company is accepting Dogecoin via BitPay. Here's the video of booking a day pass in Vegas Loop using #Dogecoin. @elonmusk @BillyM2k pic.twitter.com/lmpOkugYGp— DogeDesigner (@cb_doge) July 7, 2022
The Loop station at the new Resorts World Las Vegas integrated resort is the fourth stop on the 1.7-mile Las Vegas Convention Center Loop.
Commuters can catch Tesla-branded electric vehicles driven by humans in the subterranean tunnel system.
The original plan for the Vegas "hyperloop" was to use magnetic propulsion to move passenger-carrying capsules at high speed through a pressurized tunnel system.
The company is still working on developing driver-less vehicles for its Las Vegas transportation system.
Loop is the latest in a series of companies that Musk has integrated with Dogecoin.
The bullish reversal pattern described in this article could cause Dogecoin's price to rise by 20% in July
In December 2018, following the announcement that Tesla would accept DOGE for certain purchases, Dogecoin's price surged by 25%.
In May 2022, Musk announced his plans to expand the payment option for his space exploration company SpaceX, but there was no noticeable effect on price.
As of writing, the price of Dogecoin is $0.06851, up 1.15% over the last 24 hours.