- According to recent developments, Elon Musk is considering taking Dogecoin to another level by integrating it as a payment system into his Starlink.
- There are many expectations around this because SpaceX has adopted the meme coin for its space mission dubbed “Doge-1”.
Elon Musk has on several occasions spelled out his interest in Dogecoin through a series of tweets, seeing the meme-coin recording an all-time high in 2021. The SpaceX founder has since last year shown that his belief in the asset goes beyond his usual social media rants. SpaceX, for example, currently accepts payment in Dogecoin.
According to recent developments, Elon Musk is considering taking Dogecoin to another level by integrating it as a payment system into his Starlink.
This was made known in a short Twitter exchange after a user asked him about Dogecoin’s future with Starlink. Though he did not give a definitive answer, he gave a simple and witty reply that hints there is a chance.
i wanna buy a model rocket with dog money pic.twitter.com/SFiLoOj1Iv
— Shibetoshi Nakamoto (@BillyM2k) February 14, 2022
Starlink has around 2,000 functional satellites after several launches. It has since its inception sought to provide high-speed broadband internet to its customers including those in the most remote areas. In addition to paying $499 for its hardware kit, the company is also charging $99 per month. It is expected that Dogecoin would be used for these payments when the company comes out with a positive decision in the future.
Dogecoin getting to the center stage
There are many expectations around this because SpaceX has adopted the meme coin for its space mission dubbed “Doge-1“. It is reported that the voyage will carry a so-called CubeSat— a mini-satellite used for space research from Geometric Energy Corp, and was paid in full in Dogecoin.
The Geometric’s website stated:
DOGE has proven to be a fast, reliable, and cryptographically secure digital currency that operates when traditional banks cannot and are sophisticated enough to finance a commercial Moon mission in full.
It also mentioned that Dogecoin would be used as a unit of account for all the business between the corporation and SpaceX. This will also be a model for future missions to the moon and mars.
According to the SpaceX vice president of commercial sales Tom Ochinero, DOGE-1 will make a huge impression on the crypto industry.
Doge-1 will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce.
Last year, Musk made a very huge move in the crypto industry with his Tesla company investing $1.5 billion in Bitcoin. On top of that, the company made Bitcoin one of its payment methods. However, this decision was later rescinded following rising concerns around the energy consumption of the Bitcoin proof of work mining algorithm. Musk also hinted that Mcdonald’s would start accepting Dogecoin. Unfortunately, this never materialized. The meme coin has made its way as one of the largest cryptocurrencies by market cap and the most Google-searched crypto in the US in 2021.