• Twitter has been looking for new sources of revenue, and crypto and Dogecoin (DOGE) could be part of its plan.
• The company is reportedly focused on enabling payments on its platform under the leadership of Esther Crawford.
• Elon Musk is a big proponent of Dogecoin, and any plans to incorporate payments on Twitter could boost the cryptocurrency’s adoption rate.
Twitter’s New Revenue Strategy
According to a report from the Financial Times (FT), Twitter has been seeking out new sources of revenue as it attempts to turn around its business. The company has submitted petitions for regulatory licenses in the United States, with one critical element being expanding payment options on its platform under CEO Esther Crawford’s direction. As part of this larger strategy, Crypto and Dogecoin (DOGE) may become part of Twitter’s newly developed revenue model.
Elon Musk’s Plan
Elon Musk acquired Twitter last year in a multi-billion-dollar deal, but since then many advertisers have left the platform resulting in a decrease in its overall income. To counteract this trend, Musk has launched a subscription service and continues to search for alternative means to increase their profits. This includes introducing peer-to-peer transactions with bank accounts or debit cards that are part of his “master plan” known as the “everything app” which will allow users to message contacts, shop, and make payments all within one platform.
As an avid supporter of Dogecoin, any plans by Musk to include payment options using DOGE would inevitably increase its adoption rate among users of Twitter’s services. As such DOGE saw a 5% spike in price action but failed to break critical resistance levels at the time of writing However despite recent losses DOGE still saw an all-time high earlier this year due largely in part due to campaigns spearheaded by Elon Musk himself as well as other prominent personalities associated with cryptocurrencies like Bitcoin (BTC).
Should these plans come into fruition it would not only usher in a new era for Dogecoin but also potentially allow it reclaim lost territory amongst other popular cryptocurrencies such as Bitcoin (BTC). It should be noted however that while there is much speculation surrounding what might come from this partnership between Elon Musk and Twitter no concrete details have yet been revealed so investors should proceed with caution when contemplating buying into DOGE at this time or any other cryptocurrency for that matter.
In conclusion it appears that Twitter is gearing up towards launching their own payments system complete with cryptocurrency options including Dogecoin (DOGE). While any potential impact cannot truly be predicted until further details about these plans are revealed investors should nevertheless exercise caution until more concrete information becomes available regarding this potential partnership between Elon Musk and Twitter.