Billionaire Elon Musk has by no means been shy about his love for Dogecoin. His continued assist expressed by means of 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%. Nevertheless it appears the billionaire’s involvement within the altcoin goes even deeper than expressing assist on social media.
Leaked Pages Reveal Involvement In Dogecoin Growth
A latest report from the Wall Road Journal has revealed that Elon Musk was concerned with Dogecoin on a a lot deeper degree than the neighborhood 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 concept of wanting a social media platform the place customers would pay to be verified. This advanced 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 concept 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 ebook 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 exhibits deeper involvement with DOGE | Supply: Wu Blockchain on X
Whereas the web page additionally exhibits 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 in step with the unique concept he had in thoughts.
Since buying X (previously Twitter), Musk has slowly been turning it toward his original vision. X’s income sharing system applied 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. Nonetheless, there have been no indications on whether or not Dogecoin shall be applied 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 wrestle to keep up management of worth | Supply: DOGEUSD on Tradingview.com