Elon Musk’s X App Sparks Speculation on Crypto Payments Feature

Elon Musk's X app has captured the attention of the cryptocurrency community by introducing a dedicated account for its upcoming payments feature, scheduled to launch later this year.

X has recently announced the launch of a new account specifically for payments. This news has sparked speculation among the crypto community.

Source: @XPayments account on X, Jan. 21

Elon Musk’s “everything app” X, previously known as Twitter, has recently created a dedicated account for its upcoming payments feature. This move has sparked speculation within the crypto community about the potential integration of cryptocurrencies into the app.

While there has been no official confirmation, there is anticipation that the X app will introduce in-app payment services by mid-2024. However, it remains unknown whether the feature will support payments beyond traditional fiat currencies.

Excitement is brewing among crypto enthusiasts, eager to see if cryptocurrencies starting with the letter “X,” such as XRP (XRP), Stellar (XLM), and XDC (XDC), will find their place on the app. Crypto researcher Mason Versluis expressed his enthusiasm to his 169,000 followers on X, igniting further curiosity about the potential inclusion of these coins.

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On a related note, Elon Musk has already integrated DOGE (DOGE) for payments on Tesla’s merchandise store, and he occasionally mentions it on social media. Many speculate that DOGE is the most likely cryptocurrency to be featured on X, considering Musk’s previous interest in the coin.

The crypto community has been analyzing subtle hints from Musk and X over time, suggesting a potential interest in DOGE for upcoming projects. For example, in October 2023, X posted a meme featuring a dog answering a phone call, which prompted the Dogecoin community to decipher its meaning.

Meanwhile, crypto researcher Tokenicer believes that X has shifted its attention away from crypto-friendly content. Last year, X implemented a revenue-sharing system for ads, allowing content creators to monetize their content within the app. However, Tokenicer claims that the payments for crypto content have decreased recently based on his personal experiences.

Since Musk’s acquisition of X in April 2022, there have been numerous predictions about the app’s evolution into a completely new platform and its potential integration of cryptocurrencies, given Musk’s ongoing commentary throughout the years.

In a previous report, Musk expressed the belief that X will eventually offer people the ability to conduct their entire financial world. This statement further piques the curiosity of both crypto enthusiasts and the general public, who eagerly anticipate the app’s further development.

Q&A: What You Might be Wondering

Q: When will the X app introduce its in-app payment services?

A: The exact timeline is uncertain, but there is anticipation that the feature will be introduced by mid-2024.

Q: Will the payments feature support cryptocurrencies?

A: While there has been no official confirmation, the crypto community is speculating about the possibility of cryptocurrencies, particularly those starting with the letter “X,” being included in the payment feature.

Q: Which cryptocurrency is most likely to be featured on X?

A: Many believe that DOGE (DOGE), which Musk has already integrated into Tesla’s merchandise store, is the front-runner for potential inclusion on the X app.

Q: Has X shown any interest in cryptocurrencies before?

A: Yes, both Musk and the X app have dropped hints about an interest in DOGE for upcoming projects. A recent meme posted by X featuring a dog answering a phone call sparked speculation within the Dogecoin community.

Q: Is X shifting away from crypto-friendly content?

A: Crypto researcher Tokenicer claims that X has cut payments for crypto content, suggesting a shift in focus. However, the revenue-sharing system implemented by X is based on the total impressions content creators accumulate, so payments may vary between periods.

Looking Ahead: The Future of X and Cryptocurrencies

Elon Musk’s acquisition of X has set off a wave of speculation about the potential integration of cryptocurrencies. The recent creation of a dedicated account for the app’s payments feature further fuels this anticipation.

If X eventually allows users to conduct their entire financial world within the app, as Musk has hinted, it could signify a significant step forward for mainstream crypto adoption. However, until more details are revealed, we can only speculate on the extent of X’s crypto integration and the cryptocurrencies that will be supported.

As we eagerly await further developments, it’s clear that X has already captured the attention of the crypto community and the general public with its bold moves and potential for innovation.

References

1. Nebraska Legislators Introduce Bill to Aid Bitcoin Mining on Residential Properties
2. XRP Price Prediction: As Bitcoin ETF Goes Live Will XRP Get an ETF Next?
3. XRP (XLM) Price Correlation Persists, Ripple CTO Explains
4. Price Analysis 11/27: SPX, DXY, BTC, ETH, BNB, SOL, XRP, ADA, AVAX, DOGE
5. Elon Musk Initially Disses, Considers Using Bitcoin on Mars
6. Tax Revenue from Cryptocurrency Mining Is Modest but Growing in Kyrgyzstan
7. Arthur Hayes Believes Bitcoin ETFs Will Bring in Billions from TradFi
8. 6 Questions for 20-year-old Sellix Founder Daniele Servadei

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