Elon Musk’s Forthcoming Biography: Uncovering His Dogecoin Involvement.
As per a recent Twitter post by Wu Blockchain, billionaire entrepreneur and CEO of Tesla and SpaceX, Elon Musk, is gearing up to launch his biography on September 12. Esteemed author Walter Isaacson wrote the book, which delves into Musk’s influence on the meme coin initially designed as a joke.
The report revealed the billionaire’s quiet support for Dogecoin’s (DOGE) evolution, answering long-standing speculations by many online enthusiasts about Musk’s substantial involvement in the project.
“The biography of Elon Musk, which will be published on September 12, revealed that he has been quietly funding the development of DOGECOIN.”
The biography of Elon Musk, which will be published on September 12, revealed that he has been quietly funding the development of DOGECOIN; considered creating a social media based on blockchain and including payment; SBF ultimately failed to invest 5 billion to help acquire… pic.twitter.com/jshe9Gk7qI
— Wu Blockchain (@WuBlockchain) September 2, 2023
Musk’s tweets on Dogecoin have long been under scrutiny. Earlier this year, a class-action lawsuit linked him to alleged insider trading and price inflation of the meme coin. By late March, Musk defended his tweets, asserting that his Dogecoin endorsements were within legal bounds.
From Twitter to X: A $44 Billion Rebranding
Not just content with his ventures in space and electric cars, Musk took the social media landscape by storm last year. He acquired Twitter for a staggering $44 billion and recently rebranded it as X.
The rebranding wasn’t just cosmetic; Musk replaced Twitter’s iconic blue bird logo with Dogecoin’s Shiba Inu emblem. This move signifies his deep-rooted connection with the cryptocurrency and his intent to integrate it into mainstream platforms.
A Blockchain-Based Social Media Platform on the Horizon?
Moreover, Wu Blockchain has also brought attention to another intriguing detail from the upcoming biography. Musk has been toying with the idea of a blockchain-based social media platform, a concept initially proposed by his brother, Kimbal. Although Musk stated that X would “never” launch its own token, he humorously suggested that Dogecoin could serve as the platform’s payment system.
The biography also delves into a failed collaboration between Musk and former crypto mogul Sam Bankman-Fried. The latter attempted to assist Musk in acquiring Twitter but was unsuccessful. Despite this setback, Musk’s influence in the tech and crypto sectors remains unparalleled.
Currently, Dogecoin is experiencing a slight dip, trading at $0.06322 with a 0.77% decrease in the last 24 hours. However, given Musk’s unveiled involvement, the cryptocurrency’s future seems anything but bleak.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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