ElonCoin? Musk Says He Could Launch His Own Crypto But 'Only If Necessary'

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk said he could launch his own cryptocurrency but would only do so if necessary.

What Happened: The entrepreneur was responding to a tweet that suggested that he offer a new coin named after himself to non-major Dogecoin (DOGE) holders to void their wallets.

Binance CEO Changpeng Zhao said the move was necessary and also had a name suggestion for a Musk-developed coin.

Why it Matters: Musk is asking major holders of DOGE to “sell most of their coins.” He is of the view that “too much concentration is the only real issue.”

Musk had agreed previously that the concentration was “disturbing” when a Twitter user pointed out that one single wallet holds 28% of all existing DOGE.

Price Action: DOGE traded 10.06% higher at $0.058 at press time.

Bitcoin (BTC) traded 4.64% higher at $48,848.54.

Tesla shares closed 0.55% higher at $816.12 on Friday and gained nearly 0.2% in the after-hours session.

Benzinga’s Take: Musk has called upon DOGE Whales to void their wallets, and it seems if they do not comply with his request, the scenario for the Tesla executive to launch his own coin could arrive.

Given Musk’s background and how he started his entrepreneurship journey by co-founding X.com, it would not an unusual move.

Musk has the necessary payments background to put his money where his mouth is.

He possesses the social and financial clout to make an ElonCoin into reality, and given his interest in cryptocurrencies of late, that might just happen.

PS. In our blog pages we got hidden links where you can earn cryptocurrency for free.

Source: finance.yahoo.com

Comments

Cryptocurrencies Adding to the Safety and Security in the UK Gambling Industry

These are exciting times for the UK gambling industry. The impact of internet technology is now being felt with online gambling now controlling the industry. The adoption of cutting-edge technology is reasonable for the boom in the industry. From live casinos, mobile apps to artificial intelligence, incredible trends continue shaping the gambling industry. However, it is the rise of cryptocurrency casinos that seeks to redefine UK gambling. Many operators now include crypto coins such as bitcoin, Ethereum and Litecoin as part of their banking methods. Others offer exclusive bitcoin payments and promotions based on digital tokens. This revolutionary trend has a huge impact due to enhanced safety and security on these platforms. Players looking for peace of mind when playing online now opt to use cryptocurrencies. This post looks at how cryptos guarantee the safety and security of players at online casinos. How Cryptocurrency Gambling Works There’s a lot of talk ab...

Coinbase to Require Recipient Information for Crypto Transfers From Users in Canada, Singapore and Japan

Customers in those countries who send crypto outside their Coinbase accounts must provide recipients’ names, addresses and in some cases, additional information, as of early April. Cryptocurrency exchange Coinbase Global (COIN) will soon require its customers in Canada, Japan and Singapore who send cryptocurrency to another financial institution or exchange to provide the name, address and in the case of Japan, the destination wallet of the recipient. Coinbase has been sending notices to its customers in those countries that the changes will take effect in early April in order to comply with local travel rules in those places. Coinbase didn't immediately respond to requests for additional comment on the moves, but confirmed that they were taking place. The move does not seem to be going over well with Coinbase customers in those countries, who value the anonymity of transactions using cryptocurrency. According to a FAQ provided by Coinbase , for Canadian users, ...

Farm GRASS earn MONEY

Use your Unused Internet Bandwidth to make $$$ In today’s interconnected world, the concept of passive income has taken on new dimensions, offering innovative ways for individuals to monetize underutilized assets. One such groundbreaking avenue involves earning money by selling your unused internet connection. By participating in decentralized networks like Grass, individuals have the opportunity to turn their dormant bandwidth into a valuable asset, contributing to a fairer and more equitable digital landscape while generating income. Grass is a decentralized network sharing application designed to offer an alternative to existing centralized networks. It allows users to sell their unused bandwidth directly, without the need for exploitative middlemen. The platform operates by enabling users to download a web extension that runs in the background, assisting others in accessing public web data in exchange for payment using the protocol’s native token. How ...

Crypto Ethone

Search This Blog