Will X Embrace Crypto? Dedicated Payments Account Fuels Rumors
By April Fowell
- Elon Musk's app, X (formerly Twitter), has fueled speculation about integrating cryptocurrencies, with plans for in-app purchases expected by mid-2024.
- The X app's verified account, featuring a gold badge, hints at a potential separate account for its payments function, while Musk has previously embraced Dogecoin for Tesla.
- Crypto enthusiasts decode Musk's subliminal clues, pointing to possible interest in Dogecoin, despite opinions that X may shift focus away from cryptocurrency-related content, emphasizing its revenue-sharing scheme introduced in 2023.
Elon Musk's "everything app," X (previously Twitter), has stoked rumors in the cryptocurrency world regarding whether or not it will integrate cryptocurrencies by establishing a separate account for its planned payments function.
By the middle of 2024, it is anticipated that the X app will provide in-app purchases. Whether the functionality will allow payments using currencies other than conventional fiat money is unknown, though.
The account hasn't posted anything yet, but it has the gold badge, which means it has been verified as an organization. It also has the X badge on it, indicating that it belongs to X.
Excitement for Crypto on X
Crypto researcher Mason Versluis expressed his enthusiasm to his 169,000 followers on X that he would see cryptocurrency on the app that begins with the letter "X," like XRP, Stellar, and XDC.
Meanwhile, Musk has added Dogecoin to Tesla's goods store as a payment option and has mentioned it on social media from time to time. Many people believe that, should any cryptocurrency be featured on X, this one is the most likely to be.
Over time, the crypto community has deciphered X's and Musk's subliminal clues, indicating a possible interest in DOGE for future projects.
The Dogecoin community was tasked with interpreting a meme that X had shared in October 2023, which showed a dog taking a call.
Tokenicer, a crypto researcher, told his 36,200 followers that he thinks X has moved its focus away from information related to cryptocurrencies. X introduced a revenue-sharing scheme for advertisements in 2023, enabling content producers to get money off of their work on the app.
It is possible for the compensation structure to change between periods, though, as it is determined by the overall impressions that content providers receive.
Given his constant criticism over the years, since Musk bought Twitter in April 2022, many predictions have been made on how quickly it would transform into an entirely new platform and whether or not cryptocurrency will be integrated.
According to a July 2023 Cointelegraph article, Musk thinks X may one day be able to provide users with the "ability to conduct your entire financial world."
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