In a recent development, billionaire Elon Musk, a known supporter of Dogecoin, is reportedly in the process of implementing fees and removing bots from the X platform (formerly Twitter), which he acquired in 2022 for $54 billion.
Musk revealed this information during a conversation with Israeli Prime Minister Benjamin Netanyahu, stating that the purpose of this decision is to reduce bot activity on the social media platform.
The billionaire mentioned that if all accounts had to pay a fee to access the platform, it would make it more expensive for bad actors to continue running these bots. Additionally, higher operating costs would lead to a reduction in the number of bot deployments.
Explaining how the payment mechanism would work for each account, the CEO of SpaceX stated that X would offer a “lower price.” In this scenario, each account would have to pay a small fee just to access the platform, separate from the fee users already pay for access to its premium X Blue service.
He believes that deploying these bots costs very little, just a fraction of a cent, so requiring each account to pay a few dollars to access the platform would significantly increase their operating costs.
Since Elon Musk took over the X platform, Dogecoin investors have been eagerly waiting to see if he would eventually implement DOGE payments on the platform as he previously hinted.
These speculations are fueled by the fact that Musk has continued to implement a significant portion of the ideas he has for a social media platform highlighted in his recent biography.
However, despite being a loyal supporter of the meme coin, Musk has not provided any indications as to whether Dogecoin payments will come to X or not.
But because DOGE excels in microtransactions, it could be a good fit for the platform if X transitions into a “pay-to-play” service.