Dogecoin Value Rises Again; this time, after the announcement that Elon Musk had acquired Twitter, the currency was on the rise, many investors moved their funds to said cryptocurrency, too. But what does Dogecoin have to do with Twitter? So far, the social network has no link to the currency.
Since Elon Musk showed his desire to acquire the social network, he talked about some changes that needed to be made to it. Even when the tycoon had only obtained 9.2% of the shares of Twitter, he mentioned that he wanted to make several changes to the platform, talking about an edit button.
Among the modifications that Musk wants to make, he mentioned the decrease in content moderation, promoting free expression and including payments with cryptocurrencies. In fact, before confirming the purchase, we learned that the social network in the company of Stripe is testing payments with digital currencies to content creators; the currency that is being used in said project is the USD coin.
It may interest you: Twitter is testing payment to creators through cryptocurrencies
For his part, Elon Musk does not speak precisely of that currency in the implementation he wants for Twitter. The tycoon refers to Dogecoin, the digital currency born from a joke. But this is not the only relationship between Musk and Dogecoin. Since the beginning of this year Tesla, one of the billionaire’s companies, accepts payments through Dogecoin in its online store; time later they began to accept it as a form of payment in Superchargers.
And it is that Musk has always shown his affection for the currency. Through his Twitter account, he has trilled in the best Musk style about the coin, causing its value to rise several times. Around 1 pm yesterday, when the news of the purchase was known, the currency began to rise, reaching 17 cents in 24 hours. After this, the currency rose by 26% in value, stabilizing at about 16 cents.
We will have to wait for Elon Musk’s next movements now that he owns the social network, surely cryptocurrencies will be one of his first moves.