Elon Musk Suggests Dogecoin As Payment Method For Twitter Blue
Elon Musk has pitched his favourite cryptocurrency, the Dogecoin, as a payment option for users seeking to avail Twitter Blue services.
Musk was replying to a Twitter user from Argentina, who said Twitter Blue’s current subscription of $3 is as high as the cost of feeding a family in Argentina. The development comes just days after the Tesla CEO purchased a 9.2 per cent stake in Twitter, making him the largest shareholder in the company.
Launched in June last year, Twitter Blue is a monthly service currently available in the US, New Zealand, Canada, and Australia. As part of this service, Twitter allows subscribers to get rid of advertisements on their timelines, edit tweets within a 20-second time frame, and undo a tweet altogether among other premium features.
Musk has been polling his 81.3 million followers on updates they wish to see on Twitter. As part one such discussion, Musk tweeted that everybody who pays for special services offered by Twitter Blue must get an authentication checkmark, different from “public figure” and “official account” checkmarks to side-line bots.
On the same thread, the SpaceX CEO said Twitter Blue fees should be proportionate to affordability in local currency — proposing DOGE as an option.
Maybe even an option to pay in Doge?
— Elon Musk (@elonmusk) April 10, 2022
Musk touted Dogecoin as “the people’s crypto” in the past, citing a survey that claimed nearly 33 per cent of cryptocurrency owners in the US own DOGE assets.
The tech mogul believes that DOGE makes for a solid choice for paying for goods and services using cryptocurrencies.
“Even though it was created as a silly joke, Dogecoin is better suited for transactions. The total transaction flow that you do with Dogecoin, like transactions per day, has much higher potential than Bitcoin,” Musk had said in December 2021.
For now, it remains unclear if DOGE will become a payment option for Twitter Blue services or not.
Meanwhile, Musk has decided not to join Twitter’s board of directors, despite being its largest stakeholder.
“I believe this is for the best. We have and will always value input from our shareholders whether they are on our Board or not. Elon is our biggest shareholder and we will remain open to his input,” Twitter CEO Parag Agrawal said.