Elon Musk has mentioned DOGE again as a possible means of payment for a large company. Will Twitter accept Dogecoin as a means of payment?
Yesterday, April 10, a comment by Elon Musk, CEO of Tesla and SpaceX among others, again jumped a bomb on Twitter that went unnoticed. The billionaire has once again unleashed the furor among Dogecoin followers, by suggesting being able to add DOGE as a means of payment for the subscription of services on Twitter.
Musk's original tweet has since been deleted, though his response is still online. Billy Markus, one of the creators of Dogecoin, reacted quickly and took a snapshot of the moment where he commented:
"Twitter's biggest shareholder is talking about adding options to pay for twitter stuff in dogecoin this is good for dogecoin."
Maybe even an option to pay in Doge?
— Elon Musk (@elonmusk) April 10, 2022
Multibank ReviewT&Cs apply, 18+eToro Review74% of retail investor accounts lose moneyCapital.com Review76% of retail CFD accounts lose money
Elon Musk is Twitter's largest shareholder
As AtoZ Markets reported, the ex-founder of PayPal surprised the market a week ago when the tycoon invested 2,890 million dollars to purchase 73,486,938 shares of Twitter.
This huge purchase makes him Twitter's largest shareholder, surpassing by four times the number of shares owned by one of Twitter's key founders, Jack Dorsey. The purchase of Musk represents 10% of the total of the company specialized in social networks. Only the announcement of the event caused the stock of Twitter to rise 25%, which is noteworthy due to the decline in its price in previous days.
At the end of March, Musk opened an open poll before his more than 80 million followers in which he asked if Twitter was strictly related to the principle of freedom of expression. More than 70% answered yes and he stressed that “the consequences of this survey will be important”. It is not possible to know if he had already bought the shares or if indeed this survey was the last confirmation he needed.
The consequences of this poll will be important. Please vote carefully.
— Elon Musk (@elonmusk) March 25, 2022
For this reason, Musk's investment in Twitter may respond to a commitment to the importance of freedom of expression or a maneuver to contribute his grain of sand to the organization of Twitter.
Elon Musk could inject Twitter with more crypto functionalities
Dorsey left Twitter after years as CEO to dedicate himself fully to the Bitcoin ecosystem. The ex-CEO was a big influence on Twitter seeing Bitcoin among its plans for him, eventually adding an internal Twitter tipping system that could be done via bitcoin.
Musk has always flirted very openly with cryptocurrencies and has historically used the meme cryptocurrency, Dogecoin, as his tool for social media fun. However, his actions have repercussions on the price of DOGE and the crypto market in general.
Will the price of DOGE rise after the suggestion that Twitter accepts the meme cryptocurrency as a means of payment?