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Elon Musk’s Biography Just Dropped: Here Are Important Excerpts About Dogecoin
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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Elon Musk’s Biography Just Dropped: Here Are Important Excerpts About Dogecoin

Scott Matherson
Scott Matherson
1 year ago
3 mins read
Elon Musk Dogecoin

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The much-anticipated biography of the world’s richest man, Elon Musk, recently dropped. As expected, it contains some interesting tales of Musk’s involvement with the meme coin Dogecoin and how he has contributed to its growth.

Musk’s Love For Dogecoin Runs Deep

Musk’s biography, authored by Walter Isaacson, contains certain important parts that highlight how much the world’s richest man is invested in the token. In one part, Isaacson writes that Musk’s brother discussed the possibility of creating a blockchain-based social media platform that would include a payment system using Dogecoin. 

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Musk thought it was a great idea and even sent his brother an idea for “a blockchain social system that does both payments and short messages like Twitter.” Considering that it will be decentralized, Musk stated that it will guarantee free speech (something which Musk has continuously advocated for). The other option that Musk mentioned instead of this idea was to buy Twitter, which he eventually did.

However, considering that the initial idea was to create a decentralized social system with Dogecoin being an integral part of the payment system, it won’t be surprising to see Musk incorporate the meme coin into the payment system he intends to build on the X (formerly Twitter) platform. 

Musk is known to post cryptic memes about Dogecoin usually. Still, his wittiness towards the meme token doesn’t stop there, as he went as far as purchasing a Shiba Inu dog named Floki, which happens to be Dogecoin’s logo. In February, he posted a tweet of this pet dog with the caption, “The new CEO of Twitter..”

According to the book, FTX’s CEO Sam Bankman-Fried (SBF) was in support of Musk acquiring Twitter as he believed that Twitter could be rebuilt on the blockchain and was “eager” to be part of the deal. Last year, Musk confirmed that SBF wanted to finance his Twitter takeover, but he wasn’t so inclined to the idea as SBF had “set off his bullshit meter.”

The world’s richest man considered the idea of using blockchain technology as a support system for Twitter. However, it seems that Musk’s love for Dogecoin didn’t translate to him being a huge fan of blockchain technology. Isaacson stated that “despite the fun he had with Dogecoin and other cryptocurrencies, he was not a blockchain acolyte and he felt it would be too sluggish to support fast-paced Twitter postings.”

Dogecoin price chart from Tradingview.com (Elon Musk biography)

DOGE price still trading sideways at $0.06 | Source: DOGEUSD on Tradingview.com

DOGE Is An Investment

Beyond his fondness for the meme token, Musk is reportedly invested in Dogecoin’s development. A page in the book revealed that Musk had been funding the cryptocurrency, with Isaacson labeling Dogecoin “the semi-serious cryptocurrency whose development he [Musk] had been quietly funding.” 

As such, it won’t be surprising to see Musk work towards ensuring that the meme token attains new heights, with a prominent member of the Dogecoin community positing that Elon Musk will make the token “the official currency of X and earth in the future.”

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While this may seem farfetched to many, Musk is already taking steps that could place Dogecoin on the global stage. His X platform recently acquired licenses to offer payment services in multiple states in the US. This move could undoubtedly form part of Musk’s plans to create a payment system where users make payments in DOGE. 

DOGE is currently trading at around $0.06145, up by 0.50% in the last twenty-four hours, according to data from CoinMarketCap. 

Featured image from Fox Business, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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