Elon Musk, who recently joined the board of directors of Twitter, is trying to improve the social network. As one of the payment options, he suggested offering Twitter Blue subscribers the option to pay with Dogecoin (DOGE).
In early April, Tesla and SpaceX CEO Elon Musk was reported to have bought a large stake in Twitter, making him the company's largest shareholder. After that, he joined the board of directors of the social network and was greeted by Twitter CEO Parag Agrawal. Without wasting a day, Musk began to actively study the popularity of Twitter among users and suggested changes that could help improve it.
Musk is a very active Twitter user, with millions of his followers using the social network just because he is on it. If at some point he stopped using Twitter and started using another social network, then Twitter would register a large drop in the number of active users. However, not only is Musk not leaving Twitter, he is coming to make it better.
The new board member has already proposed a number of significant improvements to Twitter and is currently considering making changes to the Twitter Blue subscription model. After some dialogue with his followers directly on Twitter, he said that he could offer an option for payments for a premium subscription in the Dogecoin cryptocurrency.
“Everyone who signs up for Twitter Blue (ie pays $3/month) should get an authentication checkmark,” wrote Musk in a series of Tweets. Responding to a tweet that the cost of the service should correspond to the region in which the user is located, he replied that it “should be proportionate to affordability & in local currency.” On top of that, he said that Twitter might even offer payment in DOGE.
"Maybe even an option to pay in Doge?"
Maybe even an option to pay in Doge?— Elon Musk (@elonmusk) April 10, 2022
Launched in July 2021, Twitter Blue is a premium subscription service available to customers in the US, Canada, Australia, and New Zealand, which gives users a 30-second edit function, the ability to bookmark tweets and a ‘read’ function to condense long threads.
Musk is a longtime supporter of DOGE. He believes that the meme coin is the best option for fast transactions. Musk explained that BTC is the main engine in the crypto market, but the volume of transactions is small and their cost is high. BTC can function as a store of value at its basic level, but is not suitable for daily use and the purchase of various goods.
Meanwhile, DOGE, which was originally created as a joke, is better suited for transactions. The transaction flow of the coin is higher than BTC as it can process more transactions per day. Musk agreed that DOGE is slightly inflationary but argued that its inflationary number is fixed, and the percentage is not. With this theory, he believes the percentage of inflation decreases over time, encouraging people to spend DOGE instead of hoarding it as a store of value.
© 2022, Eva Fox | Tesmanian. All rights reserved.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.