– Elon Musk’s Twitter bio change has sparked rumors that Dogecoin may be used for payments on his platform.
– Musk’s profile location now includes both an “X” and a “D,” with the “D” interpreted to mean Dogecoin.
– Real Vision CEO Raoul Pal believes Musk will use Dogecoin for global payments on the platform, citing Musk’s ownership of a significant amount of Dogecoin and his support for the cryptocurrency.
– Pal suggests that Dogecoin could help Musk bypass securities laws and minimize execution risk.
– Twitter’s rebrand to “X” on July 24 resulted in a small price gain for Dogecoin.
– eToro market analyst Josh Gilbert believes Musk’s move could have long-term impacts on the crypto market, potentially competing with Ethereum and Bitcoin.
– Investors should focus on longer and wider trends rather than short-term events.
