ELON MUSK, The DOGECOIN CEO??!!
Did you know that Elon Musk is responsible for PayPal, one of the leading Internet banking systems which allow smooth transactions between businesses and clients? So with this being said, it’s no surprise that Elon Musk has taken a stance against crypto currencies, but not in a way any of us would have expected. With the influence he has garnered within the crypto market, many people have begun to speculate that Elon Musk is the CEO of Dogecoin.
The true involvement of Elon and Dogecoin
When Elon Musk started out in the finance industry, he was interested in revolutionizing how transactions were carried out. And ultimately he ended up with X.com, which later became PayPal, making Elon Musk his first 40 million dollars. Successful and influential people have always stated that revolution is not always liked, and Elon is no exception to this. And that’s a major reason why he has contributed to Dogecoin rise as it was labeled as meme currency valued less compared to Bitcoin.
Last month, he called the cryptocurrency a hustle during his guest host spot on the Saturday Night Live comedy sketch TV show Leading Prices to Tumble. In a recent Q&A session on the app Clubhouse, Musk revealed that he even had his own meme dealers who create and curate content for him to post. During that same interview, he spoke about Dogecoin in a way that echoed Palmer’s original intentions for the cryptocurrency.
Occasionally I make jokes about Dogecoin, but they’re really just meant to be jokes, he said. But fate loves irony. The most entertaining outcome is often the most likely and arguably the most entertaining outcome. And the most ironic outcome would be that Dogecoin becomes the currency of Earth in the future, while replacing traditional currencies on Earth seems ridiculous. Those coins astronomical ambition may be less so given Musk’s plan to set up a human colony on Mars.
The cryptocurrency shot up in value by two billion dollars in the space of minutes since Elon Musk and Jackson Palmer exchanged messages back in 2018, the all time CEO has gone on to become the second richest person in the world. But far from being a crypto billionaire, Palmer is nearly nothing to show for his role in creating one of the world’s most popular crypto currencies.
The predictions for Dogecoin are highly instrumental in a circumstance that even if he’s not the CEO as time progresses, if Elon Musk chooses to become a CEO, the factors are likely to move him towards accepting being the top executive, since rarely nobody agrees to head a company destined for doom.
Elon Musk, besides being vocal about Doge had also gained a bit of attention from authorities. And in one case, the US Securities and Exchange Commission reportedly wrote letters to Tesla in 2019 and 2020 over Musks potentially market moving social media habits.
What effect does it yield if Elon Musk publicly announces as Dogecoin CEO?
Some of these unfortunate circumstances were influenced by influential appeal, and it seems even the authorities might have figured out that Dogecoin was secretly being run by Elon Musk. So now what effect does it yield if Elon Musk publicly announces his position as Dogecoin CEO? He definitely has the capacity to hold such a post, being one of the most vibrant supporters of the crypto market.
Bitcoin, however, has fallen on hard times as Elon has announced that he would be breaking up with the cryptocurrency despite all his past beliefs within the specific token. Why did he choose Dogecoin over Bitcoin? For starters, Doge is perceived as the people’s currency, since it’s practically the only token people actually spend to buy things on the Internet, making it a viable investment as opposed to Bitcoin, which is hoarded by whales.
And there’s not much drive to even consider spending. Other factors as given by other analysts also state that one of the most controversial things about Bitcoin is its transfer fee. Dogecoin is far cheaper to transfer and has a fee of less than a dollar. So do you believe that Elon Musk is becoming the CEO of Dogecoin? And if so, do you believe he’ll bring many developments to make the currency more accessible and efficient for all its users?