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Dogecoin jumps after revealing Twitter 2.0 plans by Elon Musk

Elon Musk hints at Dogecoin payments on Twitter

Elon Musk published the slides of his first major corporate presentation on Twitter on November 27. In that presentation, Musk paints a picture of Twitter 2.0 and where he wants to go with the company in the future. The last slide only contains the word “payments”, which immediately gave the Dogecoin community hope.

Pay with Dogecoin?

In response to the news, the Dogecoin price immediately shot up. While a Bitcoin is measured at -0.29 percent over the entire week, Dogecoin records a plus of 22.04 percent. That just shows how much the project depends on Musk’s business. Basically, there is nothing about Dogecoin in the presentation at all.

It does not seem obvious that Dogecoin will get a serious role within Twitter. If Musk wants to make it a success, that’s the last thing he should try. There are already some doubts in certain circles about Musk’s plans for Twitter. A choice for Dogecoin would add fuel to the fire in that regard and might make things even worse.

Bitcoin has a higher chance

In principle, it seems that Bitcoin has a higher chance of playing an important role in the new Twitter. For example, through the Lightning Network, which makes it possible to facilitate practically free and instantaneous transactions. That’s something that actually adds value to Twitter. Especially since it is also possible to do micro transactions with a few satoshi.

Apart from that, it is to be expected that crypto is not at the forefront of Musk’s plans. Even if payments become a thing at Twitter, it will probably start with fiat money reaching the general public. Not everyone will just start using Bitcoin and even less so for Dogecoin. But Elon Musk has done crazier things, so the Dogecoin community can hope.

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