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Will Dogecoin become an official payment method in California?

Everyone’s favorite crypto dog is back and could be on its way to becoming an official currency in California. If he were to emerge victorious in the U.S. Senate election, Democratic Party member Timothy Ursich Jr. has pledged to write a proposed bill as legal tender.

Bringing attention to cryptocurrencies

As the world moves closer and closer to adopting crypto, so far the only digital asset used as an official form of payment is (BTC). Even then, to date, only El Salvador and the Central African Republic have adopted it.

The promise to introduce the motion to grant Dogecoin legal tender status, as Ursich Jr. did in a recent tweet, appears to be part of his campaign trail, attempting to garner support for the vote that will take place. in June. 7th.

Apart from the decision to build hype around his election campaign, interviewing Elon Musk in the process, the political power play is also bringing more attention to cryptocurrencies. On his website, Ursich Jr states that “Our government’s adoption of cryptocurrency immediately gives American citizens the opportunity to close the wealth gaps that exist, which has been argued for decades.” The Senate candidate further emphasizes the importance of a regulatory framework to prevent bad players from exploiting the crypto market.

Dogecoin Popularity

The leading memecoin, created by Jackson Palmer and Billy Markus, was one of the stars of 2021 as it reached an all-time high of over $0.70 in just a few months. The hype around the coin was partly fueled by Tesla CEO (NASDAQ:) Elon Musk, who has been affectionately dubbed “the Dogefather” by the crypto community.

Back in April, the contractor promised that SpaceX would “put a literal Dogecoin on the literal Moon.” Shortly after the announcement, the USD valuation of memecoin jumped 35%. Musk criticized Bitcoin for slow and expensive transactions, and instead chose to endorse DOGE, saying it could minimize fees and provide faster settlement speeds. The entrepreneur also revealed that he invested his own wealth in the piece.

In early 2022, Musk and Dogecoin made the news again, this time challenging McDonald’s to integrate DOGE as a payment method. To entice the fast-food giant to embrace memcoin, Musk promised to eat a Happy Meal live on TV. Just a few days ago, DOGE’s price soared 15%, after the CEO of Tesla tweeted that SpaceX would soon adopt memecoin as a means of payment for goods.

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