Musk “Quietly” Funding Crypto Rival To Bitcoin Amid Price Crash

Source: Forbes

“Elon Musk, the Tesla billionaire who embarked on a mission to transform Twitter into the X ‘everything app’ last year, has been eyeing a major ‘PayPal update’ that could cause bitcoin and crypto price chaos. The bitcoin price rally this year has stalled in recent weeks — though crypto traders are braced for a ‘crazy’ September — dragging down crypto prices and Elon Musk’s ‘fav’ bitcoin rival dogecoin, a meme-based fork of bitcoin created as a ‘joke.’ Now, Musk has been revealed to have been ‘quietly’ funding dogecoin development — even as the dogecoin price has collapsed 90% from its all-time high, crashing along with bitcoin and other cryptocurrencies.” (09/03/23)