Mullen Automotive Inc. (Nasdaq: MULN) saw a modest pre-market increase after announcing it would begin accepting cryptocurrency payments for its electric vehicles. According to an official press release, customers can now purchase Mullen and Bollinger commercial EVs using Bitcoin and the TRUMP memecoin.
The company also revealed plans to expand its crypto payment options, with intentions to accept additional digital assets in the future. While no specific tokens were named, Mullen hinted at incorporating “popular memecoins and stablecoins” into its payment system.
Following the announcement, MULN stock rose 2.07% in pre-market trading, reaching $0.7758—a notable rebound after the stock had previously fallen by 15.5%.
Despite Mullen Automotive’s announcement that it would begin accepting Bitcoin and the TRUMP memecoin as payment for its electric vehicles, the news had little positive impact on the performance of either cryptocurrency.
At the time of writing, Bitcoin is down 1.07% over the past 24 hours, currently trading at $106,801. This marks a slight decline after the flagship cryptocurrency briefly approached $108,000 just a day earlier.
TRUMP, the politically-themed memecoin, also dipped by 1.32% within the same time frame. Trading at $8.90, the token continues to follow the broader downtrend in the altcoin market, showing that even its presidential branding hasn’t shielded it from market volatility.
Mullen Automotive CEO and Chairman David Michery commented on the move, citing the growing acceptance of cryptocurrency as a valid payment method. He emphasized that this initiative is aimed at reaching a new segment of customers—crypto users who may have previously been outside the company’s typical buyer demographic.
“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,” Michery stated.
So far in 2025, crypto adoption has continued to gain traction across industries. Notable examples include American fast-food chain Steak ‘N Shake and the UK’s Lomond School, both of which have started accepting crypto payments this year.
