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Dogecoin cryptocurrency bodily coin held between two fingers.
Billionaire Elon Musk has by no means been shy about his love for Dogecoin. His continued assist expressed via the X (previously Twitter) platform was largely behind the meme coin’s spectacular development spurt again in 2021, inflicting it to surge over 26,000%. However it appears the billionaire’s involvement within the altcoin goes even deeper than expressing assist on social media.
Leaked Pages Reveal Involvement In Dogecoin Improvement
A latest report from the Wall Avenue Journal has revealed that Elon Musk was concerned with Dogecoin on a a lot deeper degree than the group realized. The WSJ report contained an image of a web page of the billionaire’s upcoming biography that talked about his behind-the-scenes involvement within the meme coin.
The web page delves into Musk’s thought of wanting a social media platform the place customers would pay to be verified. This developed over time to Musk’s brother Kimbal suggesting {that a} new social media platform be constructed with the concepts that the billionaire had put ahead.
At this junction, Musk reportedly turned excited on the thought of such a platform. In response to him, the social media platform would carry the flexibility for customers to ship cash to one another, in addition to creators being paid for issues like tales, music, and movies.
Musk then talked about that “it may have a fee system utilizing Dogecoin, the semi-serious cryptocurrency whose improvement he had been quietly funding.” This line from the guide reveals that the billionaire had been concerned with the coin behind the scenes, at a degree a lot deeper than a few tweets or memes.
Leaked web page reveals deeper involvement with DOGE | Supply: Wu Blockchain on X
Whereas the web page additionally reveals that the crypto-friendly billionaire had needed to work on “a blockchain social media system that does each funds and quick textual content messages like Twitter,” Musk had gone on to purchase Twitter for a staggering $44 billion. He has since rebranded the social media platform to X, which is consistent with the unique thought he had in thoughts.
Since buying X (previously Twitter), Musk has slowly been turning it toward his original vision. X’s income sharing system carried out just a few months in the past has seen creators being paid for his or her impressions on the platform.
Moreover, X has additionally received a license to supply funds in a number of states as rumors unfold about fee assist on the platform. Nevertheless, there have been no indications on whether or not Dogecoin will likely be carried out as a method of payment on the platform.
The Elon Musk biography, written by Walter Isaacson, is slated to be launched on September 12. It’s anticipated to make clear Musk’s journey to date equivalent to a failed collaboration with FTX founder Sam Bankman-Fried.
DOGE bulls battle to keep up management of value | Supply: DOGEUSD on Tradingview.com
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