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Elon Musk’s X App Sparks Crypto Speculation with Dedicated Payment Feature Account

Elon Musk’s innovative “everything app,” formerly known as Twitter but now rebranded as X, has recently established a dedicated account for its upcoming payment feature, sparking intense speculation within the crypto community regarding the potential inclusion of cryptocurrencies.

The X app is expected to introduce in-app payment services by mid-2024, although it remains uncertain whether these services will extend beyond conventional fiat currencies.

While this dedicated X account has yet to make any posts, it proudly displays a gold badge, signifying its status as a verified organization.

Furthermore, it proudly carries the X badge, indicating its affiliation with the X platform.

Crypto researcher Mason Versluis, with a substantial following of 169,000 users, expressed his enthusiasm for the possibility of witnessing cryptocurrencies starting with the letter “X” on the app, such as XRP, Stellar (XLM), and XDC (XDC).

Elon Musk, known for his fascination with cryptocurrencies, has previously integrated Dogecoin as a payment option for Tesla’s merchandise store and has occasionally mentioned it on social media.

Many in the crypto community speculate that Dogecoin is the most likely cryptocurrency to be featured on X if any were to be included.

Over time, both Musk and X have dropped subtle hints suggesting a potential interest in DOGE for upcoming projects.

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In October 2023, X posted a meme featuring a dog answering a phone call, prompting the Dogecoin community to decode its significance.

However, some crypto researchers, like Tokenicer, believe that X has shifted its focus away from crypto-friendly content.

In 2023, X introduced a revenue-sharing system for ads, enabling content creators to monetize their content within the app.

Tokenicer remarked, “Feels like X has cut the payments for crypto content lately,” noting a significant decrease in his earnings from the platform.

It’s important to note that the payout system is based on the total impressions that content creators accumulate, so earnings may fluctuate over time.

Since Elon Musk acquired Twitter in April 2022, speculation has been rife regarding the platform’s evolution into a completely new entity and its potential integration of cryptocurrencies, given Musk’s longstanding interest in the space.

Musk himself has indicated that he envisions X eventually offering individuals the “ability to conduct your entire financial world,” as reported by Cointelegraph in July 2023.

As the crypto community eagerly awaits further developments from X, it remains to be seen how the app will shape the future of cryptocurrency integration and online payments.

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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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