In the last week, Dogecoin has increased by almost 27% amid rumors that Ethereum’s Vitalik Buterin and new Twitter CEO Elon Musk are developing an upgrade for dogecoin.
David Gokhshtein, founder of Gokhshtein Media tweeted last week. He suspects the two would work together on upgrading Dogecoin.
Responding to Yahoo Finance, David Gokhstein stated, “Vitalik Buterin is part of the Dogecoin Foundation. Buterin has also made multiple donations to the Foundation. In addition, Elon Musk is in love with the dogecoin protocol.”
Twitter Payment System May Have DogeCoin
He continues, “A payment system is needed on Twitter, or the X-app. Musk has been making side remarks about the potential of “maybe” having dogecoin on the platform. Vitalik knows the dogecoin protocol well. It would be easy for him to provide the resources to the foundation to upgrade the blockchain.”
Although Musk’s recent tweet “Slides from my Twitter company talk” did not mention anything about Doge being on the platform, investors remain hopeful for its integration. This is expected for Twitter 2.0 “the everything app”.
Is the collaboration a good idea?
The next logical step, according to Martin Hiesboeck (head of blockchain and cryptocurrency research at bitcoin trading platform Uphold) could be to integrate a cryptocurrency wallet within Twitter.
Replying to Cointelegraph, Martin said, “Many in the crypto space are bracing themselves for how Elon Musk will impact the industry. The response has been surprisingly optimistic. It’s clear Musk will drive the digital asset integration with the platform along.” He emphasized, “For instance, many platforms will offer their own crypto wallets to keep transactions close to their ecosystem. Twitter doing this is a logical step for a social network that already enables users to send tips in crypto.”
Tesla Phone Coming Soon?
The price of Dogecoin, which serves as a stand-in for Musk’s sentiment indicator, may also be rising in response to reports that the CEO of Twitter may create his own “Tesla Phone.”
In response to worries that Apple and Google would exclude Twitter from their app stores due to issues with content filtering, Musk recently said he might enter the phone sector.
Dogecoin, which is already accepted as a mode of payment for Tesla merchandise, would not be a surprise if it’s used for the purchase of the Tesla phone.
Currently, we’ll have to wait and see if the integration of a crypto wallet on Twitter is true. Will there be a collaboration between the two, (Musk and Buterin) on upgrading the meme coin? We shall know in due time.