Elon Musk’s Biography Just Dropped: Here Are Important Excerpts About Dogecoin
14 Setembro 2023 - 11:00AM
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The much-anticipated biography of the world’s richest man, Elon
Musk, recently dropped. As expected, it contains some interesting
tales of Musk’s involvement with the meme coin Dogecoin and how he
has contributed to its growth. Musk’s Love For Dogecoin Runs Deep
Musk’s biography, authored by Walter Isaacson, contains certain
important parts that highlight how much the world’s richest man is
invested in the token. In one part, Isaacson writes that Musk’s
brother discussed the possibility of creating a blockchain-based
social media platform that would include a payment system using
Dogecoin. Related Reading: By The Numbers: How Much Crypto
Has Been Lost In The CoinEx Hack So Far Musk thought it was a great
idea and even sent his brother an idea for “a blockchain social
system that does both payments and short messages like Twitter.”
Considering that it will be decentralized, Musk stated that it will
guarantee free speech (something which Musk has continuously
advocated for). The other option that Musk mentioned instead of
this idea was to buy Twitter, which he eventually did. However,
considering that the initial idea was to create a decentralized
social system with Dogecoin being an integral part of the payment
system, it won’t be surprising to see Musk incorporate the meme
coin into the payment system he intends to build on the X (formerly
Twitter) platform. Musk is known to post cryptic memes about
Dogecoin usually. Still, his wittiness towards the meme token
doesn’t stop there, as he went as far as purchasing a Shiba Inu dog
named Floki, which happens to be Dogecoin’s logo. In February, he
posted a tweet of this pet dog with the caption, “The new CEO of
Twitter..” According to the book, FTX’s CEO Sam Bankman-Fried (SBF)
was in support of Musk acquiring Twitter as he believed that
Twitter could be rebuilt on the blockchain and was “eager” to be
part of the deal. Last year, Musk confirmed that SBF wanted to
finance his Twitter takeover, but he wasn’t so inclined to the idea
as SBF had “set off his bullshit meter.” The world’s richest man
considered the idea of using blockchain technology as a support
system for Twitter. However, it seems that Musk’s love for Dogecoin
didn’t translate to him being a huge fan of blockchain technology.
Isaacson stated that “despite the fun he had with Dogecoin and
other cryptocurrencies, he was not a blockchain acolyte and he felt
it would be too sluggish to support fast-paced Twitter postings.”
DOGE price still trading sideways at $0.06 | Source: DOGEUSD on
Tradingview.com DOGE Is An Investment Beyond his fondness for the
meme token, Musk is reportedly invested in Dogecoin’s development.
A page in the book revealed that Musk had been funding the
cryptocurrency, with Isaacson labeling Dogecoin “the semi-serious
cryptocurrency whose development he [Musk] had been quietly
funding.” As such, it won’t be surprising to see Musk work
towards ensuring that the meme token attains new heights, with a
prominent member of the Dogecoin community positing that Elon Musk
will make the token “the official currency of X and earth in the
future.” Related Reading: Why The NASDAQ’s Latest Move Is Important
For Fund Managers Filing Ethereum ETFs While this may seem
farfetched to many, Musk is already taking steps that could place
Dogecoin on the global stage. His X platform recently acquired
licenses to offer payment services in multiple states in the US.
This move could undoubtedly form part of Musk’s plans to create a
payment system where users make payments in DOGE. DOGE is
currently trading at around $0.06145, up by 0.50% in the last
twenty-four hours, according to data from CoinMarketCap.
Featured image from Fox Business, chart from Tradingview.com
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