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Elon Musk’s affection towards the meme currency Dogecoin is not some hidden fact that he has seen commonly to support and voice for it very often
Recently in response to a tweet posted by Billy Markus, the creator of famous meme currency Dogecoin, Tesla CEO and Multi Billionaire entrepreneur Elon Musk has shared his opinion. Musk said that Dogecoin (DOGE) would be going to gain more utility if more and more businesses would start accepting the meme cryptocurrency.
While the multi-billionaire also said that using Dogecoin (DOGE) to tip creators would be ‘nice’. However, the world’s richest man argued that creating a bridge between top cryptocurrencies, bitcoin (BTC) and ethereum (ETH), is not needed that much no matter its potential use case in Web 3 space.
As per the reports, the multi-billionaire entrepreneur has suggested social media giant platform Twitter allow its users who use its premium version, Twitter Blue subscription, to pay in Dogecoin. This suggestion he made after acquiring about9.2% state in the social media company.
Apart from this, Musk has recently attempted to pull off an aggressive approach toward taking over Twitter while making a whopping bid of a staggering $43 billion. After his announcement on Twitter itself, while sharing his filed application in the US SEC regarding the same, there was a lot of talking out there about the same. People seemed divided in their opinions, where some are supporting the idea of Elon Musk making a decentralized Twitter, while some people have criticized his suggestion.
Also Read: Ripple CTO Lashes Out at Elon Musk, Following His Free Speech Vantage Point
The step has seen a lot of reactions over this, which resulted in replies from various people. Some are in support, while some are in disregard. For instance, till the time of his tweet, Elon Musk was the biggest shareholder in the social media giant company. Still, after his tweet, later the day, The Vanguard Group acquired about 10.29% shares in Twitter and became the biggest shareholder.
However, some have praised the idea of Tesla’s CEO to make Twitter a decentralized space where people would not have to worry about their privacy, and freedom of speech-like principles will be followed in reality. Some responses from prominent people were worth noting, like when Cardano founder Charles Hoskinson supported the notion and said that Musk could contact him if he wanted to create a decentralized version of Twitter.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
