Elon Musk’s X App Sparks Crypto Speculation

Elon Musk’s “everything app X” is set to launch in-app payment services around mid-2024, sparking speculation in the crypto community.

The launch of a special account for its forthcoming payments function by X, the “everything app” built by Elon Musk (formerly known as Twitter), has sparked debate within the cryptocurrency community about the inclusion of cryptocurrencies.

In-app payment services are expected to be introduced by the X app by the middle of 2024, according to reports. On the other hand, it is not yet known whether the feature will support payments conducted in currencies other than standard fiat currencies.

The account has not yet posted anything, but it has been awarded the gold badge, indicating its status as a verified organization. The X badge emblazons it, indicating its affiliation with X.

In a post on X, crypto researcher Mason Versluis expressed his enthusiasm to his 169,000 followers over the chance of seeing cryptocurrencies that begin with the letter “X” on the app.

Some examples of these cryptocurrencies include XRP, Stellar, and XDC (XDC). During this time, Musk has implemented the use of Dogecoin as a payment method in Tesla’s goods store, and he has also mentioned it on social media on occasion.

Many people believe that if any cryptocurrency were to be featured on X, it would be the most likely to be included on the platform. The cryptocurrency community has evaluated subtle signals from Elon Musk and X over time, suggesting a potential interest in DOGE for prospective projects.

While this was happening, cryptocurrency researcher Tokenicer informed his 36,200 followers that he believes X has shifted its focus away from cryptocurrency-related information.

Content providers could generate cash within the app by implementing a revenue-sharing system for advertisements in the year 2023. It appears that X has reduced the payouts for crypto content as of late, according to his assertions.

According to him, he “was getting $40-70 checks a few months ago and just got one for $16.” He explains this. The payout method is likely to change from one period to the next based on the total number of impressions accumulated by content providers.

Because Elon Musk has been providing commentary on Twitter throughout the years, many have forecasted the rate at which it will develop into an entirely new platform and the possibility of incorporating cryptocurrency.

These forecasts have been made because Musk purchased Twitter in April 2022. Elon Musk’s belief that X will eventually empower individuals to “conduct their entire financial world.”