According to some reports, Tesla CEO Elon Musk believes that Robinhood wallet will be a huge deal for Dogecoin as the leading cryptocurrency will no longer be viewed by the leading online brokerage platform users.
Elon Musk liked a tweet from Shibetoshi Nakamoto #Dogecoin https://t.co/4r9QDg8oKp
— EVERY ELON LIKE & REPLY (@EveryElonReply) January 30, 2022
Elon Musk believes Robinhood wallets are a huge deal for Dogecoin
In the tweet that caught the attention of the dollar billionaire, Dogecoin co-founder Billy Markus explained that the leading dog cryptocurrency can now be used for money, trading, and other purposes that Robinhood users will be able to embrace decentralization.
Earlier, Markus shared his experience of sending Dogecoin from his Robinhood wallet for the first time.
In late January, Robinhood began beta testing for its wallet, allowing some users from the waiting list to withdraw funds to their wallets.
just sent some doge from my @RobinhoodApp wallet! was easy and fee was only 0.02 doge – this is fantastic!
also it’s super weird when i look at the description of dogecoin in the app and see my name ? pic.twitter.com/m9sHrlQYAm
— Shibetoshi Nakamoto (@BillyM2k) January 30, 2022
In Q4 of 2021, the Menlo Park-based company recorded $48 million in crypto-related revenue, down 6% from Q3. Notably, Dogecoin accounted for 40% of the said amount above. In Q2, Dogecoin accounted for 26% of Robinhood’s total revenue, reaching $565 million.
Thirsty users of Memecoin have begged the popular online trading platform to support Shiba Inu further. Robinhood, however, continues to drag its feet on the much-coveted list.
Currently, Robinhood users can buy and sell seven cryptocurrencies. However, most of them can still withdraw funds to third-party wallets.
During its most recent earnings call, the company also revealed that it will begin expanding crypto trading internationally in 2022, claiming that the crypto economy has “huge potential.”
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Read more:
- Elon Musk: Dogecoin (DOGE) Is Fundamentally Better Than Any Other Crypto
- Tesla CEO Elon Musk Is Attempting To Persuade McDonald’s To Accept Dogecoin