Elon Musk Wants To Build Twitter Payment System With Crypto In Mind!
Elon Musk Wants To Build Twitter Payment System With Crypto In Mind!
Twitter Payment System
Last October, a number of rumours began circulating around Elon Musk working on creating a prototype for a Twitter payment system which could possibly involve cryptocurrencies following the Tesla CEO’s acquisition of the social media company.
And now, the Financial Times has recently reported that Elon Musk wants Twitter payments to “first and foremost” be primarily in fiat currencies, though he notes that he still wants cryptocurrencies to be added to the system in the future.
Musk has often previously shown support for cryptocurrencies, stating in a Twitter space that “there’s a role for crypto in the future.” and that “It’s a no-brainer for Twitter to have payments in both fiat and crypto.”
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₿𝗥𝗘𝗔𝗞𝗜𝗡𝗚: Twitter has officially started the regulatory process to add payment features in the United States! @Elonmusk recently explained, "There's a role for crypto in the future. It’s a no-brainer for Twitter to have payments in both fiat and crypto" pic.twitter.com/f71EZFa1LP
— Documenting ₿itcoin 📄 (@DocumentingBTC) January 30, 2023
Dogecoin Rises
Following news of Musk’s plans to implement cryptocurrencies to Twitter’s payment systems in the future, popular memecoin Dogecoin saw its trading price jump within the past 24 hours.
Known to be Elon Musk’s favourite cryptocurrency, many theories had been rising within the past few months that the Tesla CEO could be planning to implement Dogecoin for Twitter payment systems the same way he allowed for Dogecoin to be a payment method for Tesla and SpaceX merchandise in early 2022.
Although there has yet to be any confirmation whether Dogecoin will actually be a verified cryptocurrency for Twitter’s payment system, many in the crypto community continue to suspect that it may be plausible.
Within the past 24 hours, $DOGE saw its price jump by 6% and is now trading at a price of $0.094 at the time of writing.
Related: South Korea To Adopt Crypto Tracking System This 2023
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