Dogecoin (DOGE) is Surging in Value and Acceptance Boosted by Executives of THESE 4 Tech Stocks

April 21, 2022 -

Speculation surrounding major Dogecoin (DOGE) acceptance boost has caused prices of the dog-faced crypto coin to surge. Here are FOUR tech stocks (and most of their CEOs) that are intricately involved with heightening popularity of DOGE: Twitter Inc. (NYSE:TWTR), AMC Entertainment Holdings, Inc. (NYSE:AMC), Robinhood Markets, Inc. (NASDAQ:HOOD), and Tesla Inc. (NASDAQ:TSLA).

Twitter Inc. (NYSE:TWTR)

If Tesla/SpaceX/Starlink founder and CEO Elon Musk is successful in his bid for Twitter, his intention includes opting for a subscription model where subscribers of Twitter Blue should be able to pay with dogecoin.

Launched in June 2021, Twitter Blue is the social media giant’s first subscription service for those willing to pay for exclusive access to special features, such as ad-free articles, bookmark folders, custom app icons, themes, custom navigation and an ‘Undo Tweet’ option.

When it was announced he would be appointed to Twitter’s board of directors, Musk hinted at “significant improvements to Twitter in the coming months.”—before he pulled away from the director position and instead launched a bid to takeover the entire company.

Among his suggestions, he believed that Twitter Blue subscribers should get an authentication checkmark, prices should be ~$2 per month paid annually, the checkmark wouldn’t come until 60 days have elapsed, and that to pay for the service “Maybe even an option to pay in Doge?”.

AMC Entertainment Holdings, Inc. (NYSE:AMC)

Another staunch supporter of DOGE is Adam Aron, CEO of AMC, whose company now through the AMC mobile app officially accepts Dogecoin, Shiba Inu (SHIB) and other cryptocurrencies for moviegoers at the largest movie theater chain in the USA.

“Exactly as promised, the AMC mobile app for AMC’s U.S. theatres now accepts online payments using Doge Coin, Shiba Inu, and other crypto currencies — thanks to Bitpay. Also Apple Pay, Google Pay and Paypal,” tweeted Aron. “To do so, you first will need to update to the latest version of our app.”

Robinhood Markets, Inc. (NASDAQ:HOOD)

Vlad Tenev, CEO and co-founder of Robinhood goes even further, tweeting “Can #Doge truly be the future currency of the Internet and the people? As we added the ability to send/receive DOGE on Robinhood, I’ve been thinking about what that would take.”

In order to achieve “currency of the internet and the people” status, Tenev went on to hypothesize that transaction fees would need to be “vanishingly small”—further pointing out “We’re already there.”

Robinhood’s app has delivered typical transaction fees around ~$0.003, compared to 1-3% network fees charged by major credit card networks.

As well, transactions would need to be recorded in less time that it takes to pay at a point of sale (POS) terminal, but not so fast that miners can build up too many competing block chains while wasting excessive amounts of energy. Other suggestions from Tenev included technical adjustments such as changing the block size.

Tesla Inc. (NASDAQ:TSLA)

Whether or not Musk’s Twitter bid is successful is currently still up in the air. However, he now may have a formidable partner in the mix, with one of the largest buyout firms in the market, Apollo Global Management Inc. reportedly considering participating in Musk’s ambitious attempt.

Apollo Global is a private equity and lending giant with about $500 billion under management. Other entities reportedly taking an interest in Twitter include private equity firm Thoma Bravo LP.

As for his own empire, Musk is seemingly quite connected to Dogecoin, with DOGE set to use Musk’s company SpaceX’s Starlink (satellite internet) for offline transactions, while his flagship

Tesla Inc. (NASDAQ:TSLA) also already accepts DOGE for certain merchandise.