Recently it became known that the Dogecoin fund, which was first founded in 2014, is getting its “second wind“, starting to deal with a native digital wallet for this digital asset. The organization that will develop the Dogecoin ecosystem will be based in Liechtenstein.
The Dogecoin Foundation has a chance to implement what entrepreneur Elon Musk expects from this digital asset, especially since a representative of one of the key shareholders of Tesla and SpaceX will join the board of the revived Dogecoin Foundation. We are talking about Jared Birchal, legal and financial advisor to Musk.
Thus, it is planned to promote the Dogecoin blockchain as the basis for the development of various projects, following the example of the Ethereum blockchain, which has become a key element of DeFi. In fact, the fund intends to follow the path of creating an ecosystem around Dogecoin that would allow this digital asset to become equal in importance to bitcoin and even surpass it – Musk spoke about the potential of such development earlier.
The fund intends to attract sponsors who will form the organization’s budget for the next three years. In addition to Musk’s representative, Vitalik Buterin, one of the key developers of Ethereum, is included in the board.
In addition, the board includes Dogecoin founder Billy Markus as well as the key developer of this digital asset, Max Keller. According to another member of the board, Jens Wichers, the fund intends to “put down roots” in Liechtenstein, about which the relevant negotiations are underway.
Meanwhile, Dogecoin continues to show notable volatility. Today, August 20, Doge is trading at $ 0.31, over the past seven days, the Dogecoin price has risen in price by 16%.