Elon Musk Wanted A Dogecoin Social Media System That Does Both Payments And Short Messages, Biography Reveals
Portfolio Pulse from Mehab Qureshi
Elon Musk's biography by Walter Isaacson reveals that Musk considered integrating Dogecoin (CRYPTO: DOGE) as a payment system for a blockchain-based social media platform. The idea was suggested by Musk's brother, Kimbal, after Musk's acquisition of Twitter. However, Musk believed that a blockchain-based social network would be too slow for Twitter's fast-paced postings. Sam Bankman-Fried, founder of FTX cryptocurrency exchange, showed interest in joining the deal but later decided against it due to Musk's unpredictable behavior.
September 04, 2023 | 4:40 am
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Elon Musk's consideration of integrating Dogecoin as a payment system for a blockchain-based social media platform could potentially increase interest and demand for Dogecoin.
Elon Musk's interest in integrating Dogecoin into a potential blockchain-based social media platform could increase the demand for Dogecoin, as it would provide a new use case for the cryptocurrency. This could potentially lead to an increase in the price of Dogecoin in the short term.
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