Musk Not Joining Twitter’s Board But Wants 'Significant Improvements', Teases DOGE Payments Integration
Shortly after purchasing a 9.2% stake in Twitter, Tesla’s CEO Elon Musk has announced that he is hoping to pave the way for “significant improvements” to the social media platform “in the coming months,” and possibly for the integration of dogecoin (DOGE) payments for premium services.
This could potentially stimulate the demand for the meme coin which counts Musk as one of its leading promoters.
The development came shortly before Parag Agrawal, CEO of Twitter, disclosed that Musk had decided not to join the company’s board of directors.
“Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same morning that he will no longer be joining the board. I believe this is for the best,” Agrawal tweeted.
This said, the entrepreneur’s recent series of tweets suggests Musk intends to shape the company’s future development as a shareholder, and that he has a number of ideas on how the social media platform could improve its functionalities and lure more users to its various services.
“Elon is our biggest shareholder and we will remain open to his input,” according to Agrawal.
Among others, Tesla’s CEO is mulling various changes to the subscription prices of Twitter Blue, the company’s premium service, as indicated by Musk’s tweets.
“Price should probably be ~[USD]2/month, but paid 12 months up front & account doesn’t get checkmark for 60 days (watch for CC chargebacks) & suspended with no refund if used for scam/spam,” he tweeted.
“Maybe even an option to pay in Doge?” Musk added.
The entrepreneur has proven his capacity to trigger rallies, or in many cases sharp declines, in the prices of cryptoassets such as bitcoin (BTC) and DOGE with his various announcements. Last December, DOGE’s price skyrocketed after Musk declared that his company “will make some merch buyable” with the meme coin.
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