X launches dedicated Payments account, crypto community speculates
Elon Musk's "everything app" X (formerly known as Twitter) has created a dedicated account for its upcoming payments feature, fueling the crypto community to further speculate over the possibility of whether cryptocurrencies will be implemented.
There is anticipation that the X app will introduce in-app payment services by mid-2024. However, there has been no confirmation whether the feature will support payments beyond traditional fiat currencies.
@XPayments account on X, Jan. 21. Source: XRelated: Elon Musk’s X moves closer to crypto payments with new state license
While no posts have been made on the account, it holds the gold badge, indicating it is a verified organization. Additionally, it carries the X badge, signifying it is associated with X.
However, several crypto commentators are pondering the inclusion of crypto in the payment feature.
In a post on X, crypto researcher Mason Versluis shared with his 169,000 followers his excitement about the possibility of seeing crypto that start with "X," such as XRP ( XRP ), Stellar ( XLM ), and XDC (XDC), on the app.
So X is building "X Payments"
— MASON VERSLUIS (@MasonVersluis) January 20, 2024
It's only right they enable the X coins... $XRP $XLM $XDC $XYO etc...
I wanna see a MASSIVE crypto integration from X
Change the world Elon, set fire to the SEC + banks with this play
Meanwhile, crypto researcher Tokenicer informed his 36,200 followers that he believes 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.
“Feels like X has cut the payments for crypto content lately,” he claims.
He explains that he “was getting $40-70 cheques a few months ago just got one for $16.”
However, the payout system is based on the amount of total impressions content creators accumulate, so is likely to vary heavily between periods.
Meanwhile, Musk has incorporated DOGE ( DOGE ) for payments on Tesla's merchandise store , along with occasionally mentioning it on social media. Many speculate that it's the most likely crypto to be included on X, if any were to be featured.
I asked Grok @elonmusk pic.twitter.com/49tK9t9tT0
— Ɖoge_Albania (@doge_albania) January 20, 2024
Since Musk acquired Twitter in April 2022, there has been many predictions about the pace at which it will evolve into a completely new platform and the potential integration of crypto, given his ongoing commentary on throughout the years.
In July 2023, Cointelegraph reported that Musk believes eventually X will be able to offer people the “ability to conduct your entire financial world.”
Magazine: 6 Questions for 20-year-old Sellix founder Daniele Servadei
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
MARA's stock jumps after raising $1 billion via convertible notes to buy more bitcoin
MARA Holdings announced the successful closing of its $1 billion offering of 0% convertible senior notes due 2030.The bitcoin miner plans to allocate around $199 million of the proceeds to repurchase $212 million in principal of its existing convertible notes due 2026. The remaining funds will be used to acquire more bitcoin.
Gold loses luster as institutional demand fuels bitcoin price surge, analysts say
Bitcoin’s 46% surge over the past month, contrasted with gold’s 3% decline, highlights a shifting investor preference toward alternative store-of-value assets, analysts say.Derivatives traders are buying up bitcoin call options ahead of Trump’s inauguration, signaling strong bullish sentiment for the beginning of 2024.
SEC is 'engaging' Solana ETF applicants: report
SEC “engaging” on Solana ETF applications, sparking optimism for potential approval in 2025.VanEck, 21Shares, and Bitwise lead Solana ETF filings amid pro-crypto White House hopes.SOL token rises 4.6% to $247.91, bolstered by Solana’s strong DeFi ecosystem and demand.
Shiba Inu Developer Says SHIB Is No Longer a Memcoin