Elon Musk Suggests Allowing Twitter Payments in Dogecoin

Twitter’s biggest shareholder with a 9.2% stake in the company, Tesla and Spacex CEO, Elon Musk, has suggested to make the meme cryptocurrency Dogecoin (DOGE) a payment option for the Twitter Blue subscription service.

The ‘Dogefather’ recently joined Twitter’s board of directors and promised to bring “significant improvement” tot the platform.

One of the discussions that have been going on concerns the authentication checkmark. Musk said that everyone who signs up for the Twitter Blue subscription service at $3 a month should be getting the authentication checkmark.

In response to a user asking for a lower fee, Musk said it should be proportionate to affordability & in local currency, after which he dropped the DOGE, suggesting it could be an option to pay in his beloved cryptocurrency:

Musk’s Dogecoin endorsement, caused the meme coin to rise almost 10% in less than two hours.

Twitter Blue launched in June of last year and is currently available in the U.S., Canada, Australia, and New Zealand. According to Twitter “an active Twitter Blue subscription gives you access to premium features like Undo Tweet.”

Musk’s Tweet caught the interest of a wide range of crypto enthusiasts and influencers, leading to an exchange of ideas.

Binance CEO and founder Changpeng Zhao commented:

“It should be soon. But yes, the fact they rollout by country is an odd concept. The internet has no borders.”

Macro Guru and Real Vision CEO, Raoul Pal, noted:

“The answer lies in earning tokens for adding value to the network. Reddit is moving in the right direction. That gives community accreditation plus releases enormous intangible value in Twitter and turns it into a tangible on the balance sheet for twitter of maybe a $1trn…”

Musk has previously compared Dogecoin with Bitcoin, noting that the memecoin is much better suited for transactions. His electric vehicle company, Tesla, is currently accepting the coin for payments of certain merchandise.