A local bagel shop in Long Beach has recently started accepting dogecoin as a form of payment.
The shop named 5th Ave Bagelry is excited to be the first in the area to accept this new form of payment.
Dogecoin is a new up-and-coming cryptocurrency that resembles the early stages of Bitcoin.
Many people are putting a whole-hearted dedication in this crypto because they believe it will be the next Bitcoin, which is worth over $38,000 now and was worth over $62,000 earlier this year.
Bau Tran, the manager at 5th Ave Bagelry, made the decision to accept dogecoin transactions.
Tran said, “My store accepted dogecoin because of me. I believed in it, no one else is doing it, everyone I ask around here doesn’t really know about it and I started the movement in my area.”
According to Tran, he heard about dogecoin via billionaire Elon Musk’s social media.
Tran feels that the decision has already impacted (his) local area. Tran also states that he’s had dogecoin transactions at least once a day since it was first announced.
Jose Zaragoza, who owns 7,237 dogecoins said, “I was living in my car last year during the pandemic, moved in with my parents, saved every cent I had and was worried I would spend it on just everyday life, so I decided to invest in Dogecoin.”
Zaragoza also found out about dogecoin through Elon Musk via social media.
“I honestly think Dogecoin is going to be used in everyday transactions to buy everyday things like a debit, checking account sort of thing,” said Zaragoza
Zaragoza shared his long term goal with dogecoin and said, “The long term goal is to give people a chance to have a taste of what financial freedom feels like. It’s not about fancy cars or giant houses. Dogecoin is sort of like a stimulus check from Elon Musk to the people.”
“I hope it becomes more mainstream and it helps teach people how to make their money work for them, and to be able to just live and not have to worry about money as much as we do,” said Zaragoza.
Another dogecoin investor, Seth Threewitt owns 18,000 dogecoins.
Threewitt said, “I invest in dogecoin because it’s easy money really but I’m waiting for the Moon. ‘To The Moon,’ is a term referring to when the coin starts to reach higher numbers. It’s commonly used by investors or traders.
Threewitt caught wind of dogecoin through a website called Reddit and believes that dogecoin is the next Bitcoin.
“I think it will pop off in the future and catch up to Bitcoin. I have been looking at lite (litecoin), btc (Bitcoin), eth (Ethereum) but doge is my main crypto,” said Threewitt.
5th Ave Bagelrly is the only place in Long Beach accepting Dogecoin. Time will tell if even other businesses will follow suit.