Mullen Automotive Inc. (NASDAQ: MULN) announced on June 27 that it now accepts cryptocurrency payments for its commercial electric vehicles, becoming one of the latest automakers to embrace digital assets in retail transactions.
The California-based EV manufacturer revealed that customers can now purchase Mullen and Bollinger electric vehicles using Bitcoin (BTC) and the Official Trump (TRUMP) memecoin. The company stated that it plans to support additional cryptocurrencies in the near future, including “popular memecoins and stablecoins,” though specific names were not disclosed.
Crypto for Cars: A New Era of EV Payments
According to Mullen’s press release, this move is part of a broader strategy to reach crypto-savvy consumers and commercial buyers alike. As cryptocurrencies gain mainstream traction, Mullen believes offering alternative payment methods could give it an edge in a competitive EV market.
“The increasing acceptance of cryptocurrency as a form of payment expands Mullen’s ability to deliver its product to a broader audience at the commercial and consumer levels,” said David Michery, Mullen Automotive CEO and chairman.
MULN Stock Sees Pre-Market Lift
The announcement gave Mullen’s stock a much-needed bump. The MULN stock rose 2.07% in pre-market trading, reaching $0.7758, after suffering a 15.5% decline in the previous session. Investors appeared optimistic that the company’s crypto payment adoption could boost sales and brand visibility.
However, the move had little impact on the crypto market itself.
- Bitcoin (BTC) dropped 1.07% over the past 24 hours, currently trading at $106,801, down from nearly $108,000 earlier this week.
- TRUMP, the politically themed memecoin, also dipped 1.32% to $8.90, following a broader decline across the altcoin market.
Institutional Adoption on the Rise
Mullen joins a growing list of companies accepting crypto payments in 2025. Other recent adopters include Steak ‘N Shake, an American fast-food chain, and Lomond School, a private institution in the UK. Their embrace of cryptocurrency reflects a broader shift toward alternative payments in both the consumer goods and education sectors.
Though speculative in nature, memecoins like TRUMP have seen increasing real-world use cases as retailers and service providers seek to tap into their viral appeal and loyal communities.
Final Thoughts
Mullen’s crypto payment rollout marks a bold step toward the mainstream integration of digital assets in the EV market. While short-term token prices remain largely unaffected, the strategic move highlights a growing trend of traditional companies leveraging crypto to reach new customer segments.
Whether or not this will translate into significant vehicle sales remains to be seen but one thing is clear: Mullen is betting that the future of transportation could also include a future in crypto.
