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Billionaire Elon Musk has by no means been shy about his love for Dogecoin. His continued help expressed by 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 help on social media.
Leaked Pages Reveal Involvement In Dogecoin Growth
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 concept 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 grew to become excited on the concept of such a platform. In line with him, the social media platform would carry the power 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 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 brief textual content messages like Twitter,” Musk had gone on to buy 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 towards his unique imaginative and prescient. X’s income sharing system carried out a couple of months in the past has seen creators being paid for his or her impressions on the platform.
Moreover, X has additionally acquired a license to supply funds in a number of states as rumors unfold about fee help on the platform. Nevertheless, there have been no indications on whether or not Dogecoin shall be carried out as a way of fee 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 up to now reminiscent of a failed collaboration with FTX founder Sam Bankman-Fried.
DOGE bulls wrestle to keep up management of value | Supply: DOGEUSD on Tradingview.com
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