• Elon Musk’s X (formerly Twitter) is set to integrate cryptocurrency payments, with many speculating that Dogecoin will be the currency of choice.
• Dogecoin has become a serious cryptocurrency, largely due to the support of billionaire Elon Musk.
• There is a lawsuit against Elon Musk accusing him of price manipulation through his use of Dogecoin.
Dogecoin and Elon Musk
Dogecoin (DOGE) has become one of the most successful cryptocurrencies thanks largely in part to its biggest supporter, billionaire Elon Musk. The altcoin owes much of its success to the world’s richest man, who has been a vocal fan and advocate for it since it was created by Jackson Palmer and Billy Markus in 2013. He has also integrated Dogecoin into his electric car company Tesla and confirmed that he personally owns DOGE.
Price Manipulation Allegations
Although Dogecoin’s popularity can be attributed to Musk, some investors have accused him of price manipulation due to his influence on the project. An ongoing lawsuit accuses him of accumulating loads of DOGE, propping up the project through his X account before dumping them at a greater profit. His lawyers deny these claims and insist that the said wallets do not belong to him.
Elon Musk’s X – Everything App?
Elon Musk is reportedly working on making X into an ‘everything app’ where users can process payment transactions, book flights and hotels, buy groceries and bills, access financial services etc., much like WeChat does in China. This could potentially make DOGE the native currency for all these transactions if it were chosen as such by Tesla or any other partner organization involved in this project.
Dogecoin Investment Opportunity?
If Dogecoin were indeed chosen as the native currency for this so-called ‘everything app’ by Tesla or any other partner organization involved in this project then it could offer investors an incredible investment opportunity as demand for DOGE would skyrocket overnight thus creating massive profits for those who invested early enough in the project.
Whether or not Dogecoin will become the native currency of Elon Musk’s X remains uncertain until further news is released regarding its potential integration with Tesla or any other partner organization involved in this project. However what is certain is that if it were chosen then there would be a huge investment opportunity available for those interested in investing in cryptocurrencies such as DOGE which have been greatly supported by influential figures like Elon Musk himself .