Billionaire entrepreneur and CEO of Tesla and SpaceX, Elon Musk, is set to release his biography on September 12, as shared in a recent Twitter post by Wu Blockchain.
The book, authored by renowned writer Walter Isaacson, explores Musk’s impact on the meme coin originally created as a joke.
Unveiling Musk’s Support for Dogecoin: The report uncovers Musk’s behind-the-scenes backing of Dogecoin’s development, putting to rest speculations that many online enthusiasts had regarding Musk’s significant involvement in the project.
Quiet Funding: The biography, slated for release in September, discloses that Musk has been discreetly providing financial support for the advancement 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
Elon Musk’s tweets about Dogecoin have been closely examined. Earlier this year, a lawsuit claimed that he was involved in insider trading and inflating the price of the meme coin through his tweets. By the end of March, Musk defended himself, saying that his support for Dogecoin in his tweets was legal.
Twitter’s $44 Billion Rebranding as X
Elon Musk, known for his space and electric car ventures, made a big move in the social media world last year. He bought Twitter for a massive $44 billion and recently changed its name to X.
But it wasn’t just a superficial change. Musk replaced Twitter’s famous blue bird logo with the Shiba Inu symbol from Dogecoin. This shows his strong ties to the cryptocurrency and his plan to bring it into popular online platforms.
Is a Blockchain-Powered Social Media Platform Coming Soon
Additionally, there’s an interesting tidbit in the upcoming biography. Musk has been considering the idea of creating a social media platform based on blockchain technology. This concept was initially suggested by his brother, Kimbal. While Musk mentioned that X would “never” introduce its own digital token, he humorously proposed that Dogecoin could be used as the payment system for the platform.
The biography also explores a failed collaboration between Musk and former cryptocurrency mogul Sam Bankman-Fried. Bankman-Fried tried to help Musk acquire Twitter, but their efforts were unsuccessful. Despite this setback, Musk’s influence in the technology and cryptocurrency industries remains unmatched.
Currently, Dogecoin’s price is experiencing a slight decline, trading at $0.06322 with a 0.77% decrease in the last 24 hours. However, with Musk’s revealed interest, the cryptocurrency’s future appears promising.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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