After Elon Musk finalized a $44 billion deal to acquire Twitter last week, Dogecoin saw a spike of more than 70% on Saturday, extending gains from this week.
The CEO of Tesla Inc., a fervent supporter of cryptocurrencies, significantly impacted dogecoin and bitcoin values.
Tesla accepts Dogecoin
This year, Tesla began taking dogecoin as a method of payment for its products. In addition, Elon Musk’s recently launched perfume brand is also now accepting Dogecoin.
The cryptocurrency exchange Binance, which contributed $500 million to Elon Musk’s acquisition of Twitter, claimed to be creating and formulating ideas for how blockchain technology and cryptocurrencies can benefit Twitter.
Under CEO Jack Dorsey, who is a supporter of bitcoin, and co-founder Evan Williams, Twitter has started looking at how to apply blockchain technology.
This month, Musk tweeted that he was purchasing Twitter to build an “everything app.” Asian companies like WeChat, which enables users to not only send messages. But also making payments, shopping online, and hailing a cab, are where the concept of an all-encompassing software first emerged.
World leaders and banned account holders are pleading with Musk to reactivate their accounts after he pledged to restore free expression on Twitter.
A content moderation committee “with vastly diverse opinions” will be formed by Twitter. However, he added that before the council meets, no significant content decisions or account reinstatements will be made.
In a tweet posted on Saturday, the billionaire claimed Twitter users would soon be able to select the version of the social networking site they prefer by ranking their tweets.
Musk begins his Twitter ownership with firings
Elon Musk has taken control of Twitter Inc with harsh efficiency, sacking key executives while explaining how he plans to realize all the goals he has set for the significant social media network.
He tweeted, “The bird is liberated” after completing his $44 billion acquisition on Thursday, making obvious reference to his wish to see Twitter loosen its restrictions on what can be written.
Elon Musk soon started firing employees at top management and bringing changes to the social media platform. He also suggested making the platform even-handed.
