Dogecoin rises more than 70% after Musk’s Twitter deal | Jobi Cool


Dogecoin surged more than 70 percent on Saturday, continuing this week’s uptrend following Elon Musk’s $44 billion purchase of Twitter last week.

The CEO of Tesla Inc., an ardent supporter of cryptocurrencies, has significant influence on dogecoin and bitcoin values.

Early this year, Tesla started accepting dogecoin as payment for its products. Musk’s recently launched perfume line now accepts Dogecoin.

Cryptocurrency exchange Binance, which contributed $500 million to Musk’s takeover of Twitter, said it is brainstorming how blockchain technology and cryptocurrencies could benefit Twitter.

Under previous CEO Jack Dorsey, who is a supporter of bitcoin, and co-founder Evan Williams, Twitter has begun to look at how to apply blockchain technology.

This month, Musk tweeted that he was buying Twitter to create an “everything app.” Asian companies such as WeChat, which allows users not only to send messages but also to make payments, shop online and hail taxis, are where the concept of all-encompassing software first emerged.

Dogecoin, which started as a social media joke, was previously unknown until Elon Musk’s tweets about it, such as the one where he labeled it a “people’s crypto”, turned it into a speculator’s paradise.

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World leaders and banned account holders are pleading with Musk to reactivate their accounts after he vowed to restore free speech on Twitter.

A content management committee “with very diverse perspectives” will be formed by Twitter, he said on Friday. Before the council meets, no meaningful decisions on the content or resumption of bills will be taken, he added.

In a tweet published on Saturday, the billionaire claimed that Twitter users will soon be able to choose their preferred version of the social networking site by ranking their tweets.

(with input from institutions)



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