American biographer Walter Isaacson is about to release a biography of Musk by the same name, and according to Isaacson, in the new book, Musk's secret relationship with the cryptocurrency Dogecoin will be made public.
Musk has a long history with Dogecoin. He has posted Dogecoin-related content on Twitter (now renamed X) many times, causing Dogecoin prices to fluctuate dramatically. Previously, some investors sued Musk for using his huge influence to manipulate the Dogecoin market and engage in insider trading, causing them to suffer huge losses.
Zhao Changpeng, CEO of Binance, the world's largest cryptocurrency exchange, previously said that he was surprised that Dogecoin has been operating stably since its creation, and suspected that Musk was behind it. His remarks were also widely recognized by the crypto world.
There is speculation that Isaacson's new book may further confirm that Musk has been secretly funding the development of Dogecoin for a long time.
This news may shake the cryptocurrency world, especially after Dogecoin is linked to the X platform, its application scope and frequency of use may even surpass Bitcoin, becoming the new "uncrowned king" in the cryptocurrency world.
X integrates Dogecoin?
After acquiring Twitter, Musk has been promoting the idea of building an all-encompassing software, and renaming Twitter to X is the first step.
Regarding the next development of X, the integration of blockchain technology has always been the focus of attention. If X integrates Dogecoin into the payment function, this will be a major development for X and the crypto world. It will not only completely change the way social media platforms operate, but also integrate cryptocurrencies into daily social activities.
In July this year, Musk said that he personally owns Bitcoin, Ethereum and Dogecoin, and quietly added the Dogecoin symbol to his X account. Previously, Musk also briefly replaced the Twitter icon with the Dogecoin logo, which once caused the price of Dogecoin to rise by 16%. This move also shows Musk's unusual interest in Dogecoin.
In addition, there are reports that Musk has been discussing with Wall Street people in recent months to build X into an upgraded version of Paypal and has been frantically acquiring US money transmission licenses.
According to the latest media reports, X has obtained money transmission licenses in New Hampshire, Michigan and Missouri, and has the power to manage digital assets, further paving the way for the introduction of Dogecoin on the X platform. According to crypto market observers, Musk's transformation plan for X may change the rules of the game for cryptocurrencies.
These speculations about the relationship between Musk and Dogecoin have boosted public interest in Dogecoin. In the past week, searches for Dogecoin have surged 61%, and user discussion participation has increased significantly by 37.2%.
At the same time, Dogecoin has fallen 9.74% this year, and its price has not been significantly driven by the Musk effect. The market is still waiting for further evidence and has no intention of entering this legendary carnival too early.
