DOGE Creator Says Musk Purchasing Twitter A 'Win-Win,' Deleting The Platform A 'Great Idea'

Tesla chief executive officer Elon Musk made headlines once again when he shared his revived interest to purchase Twitter. Following the announcement, one of the creators of the popular dog-themed meme coin DOGE commented that the tech billionaire's decision is a "win-win."

Billy Markus, who goes by name Sibetoshi Nakamoto on Twitter, shared his opinion on Musk's plan to buy Twitter, noting, "If Elon Musk makes Twitter better, then Twitter will be better. If Elon Musk ruins Twitter, then we don't have to hear all the stupid things that people say on Twitter anymore, that's a win-win."

"What if Elon just decides to delete it?" A netizen asked Markus. "Seems like a great idea to me," the Dogecoin creator said in response, adding that "Twitter is mainly misinformation, bots and idiots yelling at idiots."

Another curious Twitter user asked Markus, "What if he bans all crypto accounts, and THEN makes Twitter better but without us?!" To this, the software engineer replied, "Then I can get a more productive hobby."

Following Musk's announcement, Dogecoin surged to $0.06641, spiking its price by 9.5% from the $0.06065 price it had a few hours before the news broke out. Investors were hyped about the tech billionaire owning the micro-blogging site since he previously mentioned introducing a tipping jar for DOGE and even accepting it as a form of payment for Twitter Blue subscriptions.

Musk is known as a vocal Dogecoin supporter and has accepted the meme coin as a form of payment to some Tesla merchandise. Earlier, he mentioned that his spacecraft engineering company Space X would soon follow Tesla in accepting the crypto as payment.

Musk's vocal support for Dogecoin was helpful to DOGE holders since positive sentiment always drives the asset's price up. However, a New England electrician named Keith Johnson filed a $258B Dogecoin Racketeering Lawsuit against the tech billionaire and several others in June.

The lawsuit alleged that Musk, despite being aware that DOGE did not have enough value, promoted it to hype the public and profited billions at the expense of investors.

As of 4:33 a.m. ET Wednesday, DOGE was trading up 6.04% at $0.06437 with a 24-hour volume of $990,043,140, based on the latest data from CoinMarketCap.