Wondering where to spend some of your cryptocurrencies holdings? Well, wonder no more, as Elon Musk’s The Boring Company, has started accepting cryptocurrency payments. You can now purchase any of the handheld flamethrowers among other accessories using digital coins.
Musk’s Crypto Support with The Boring Company
Some of the virtual currency payments that the company accepts include Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). This is in addition to other traditional means of payments such as Visa, Mastercard, and PayPal. For those still in the dark, The Boring Company bills itself as an infrastructure and tunnel construction company.
Founded by a controversial billionaire entrepreneur, Elon Musk, the company sells an assortment of products. Some of its best sellers include flamethrowers as well as safety accessories such as gloves and propane tank refills. The company also sells 5lb fire extinguishers.
The Boring Company’s flamethrowers go for $500 USD, which translates to about 0.078 BTC. When it comes to Ethereum, people will have to part ways with about 2.48 Ethers. Proceeds from the sales will go towards financing Musk’s ambitious Hyperloop transportation system.
Musk has never shied away from taking advantage of anything that has the potential to strengthen his entrepreneurial empire. Adding support for cryptocurrency is just but one of the many things he has done that shows how open he is to new exciting ideas.
Cryptocurrencies are not everyone’s cup of tea, especially in the mainstream sector. A number of high profile executives, as well as investors, have already taken a swipe at them over their high instability. Concerns over the amount of volatility they come with have to some extent stifled their widespread adoption.
Growing Popularity of Cryptocurrencies
The Boring Company is not the first company to start accepting BTC payments for flamethrowers. Throwflame, known for making terrifyingly awesome flamethrowers, has for quite some time accepted cryptocurrency payments.
The big question now is whether by accepting cryptocurrency payments, The Boring Company will be able to ship more products. The jury is still out given the mixed reaction that cryptocurrencies continue to experience in the market.
However, The Boring Company adding support for cryptocurrencies underscores their growing popularity. In addition, the move goes on to confirm the theory that it is only a matter of time before cryptocurrencies find their way into the mainstream sector. A number of retail outlets, especially e-commerce platforms, are increasingly accepting cryptocurrencies for settling transactions.
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