What if Elon Musk implemented Bitcoin on Twitter?

News hardware What if Elon Musk implemented Bitcoin on Twitter?

Although Elon Musk currently owns about 10% of the company’s capital, he intends to come up with new ideas for the social network Twitter long before he owns it all. The acquisition agreement is still pending, but the billionaire is still actively participating in the company’s meetings. As a result, the CEO of Tesla and SpaceX organized a meeting to talk about integrating cryptocurrencies into the social network.

Bitcoin is already on Twitter

Bitcoin is not new to Twitter, as in 2021, the company introduced cryptocurrencies to its platform with “Bitcoin tipping”.

The functionality, still present, offers the possibility of using their Bitcoins (or classic currency) to make donations to content creators on the social network.

“In addition to the services currently enabled through Tips, people can now seamlessly tip with Bitcoin using Strike, a Bitcoin Lightning Network-based payment app that allows people to send and receive Bitcoin,” said Esther Crawford, director of product of the group, on the Twitter Blog.

But the “Bitcoin tipping” button does not satisfy Elon Musk, who aims to make Bitcoin almost indispensable on Twitter …

The support of the Cryptosphere

As we know, the American billionaire is an ardent supporter of cryptocurrencies. In this research, Elon Musk wants to offer new services related to bitcoin (or even Dogecoin) on Twitter.

An initiative strongly supported by some crypto giants … In fact, the head of Binance, one of the largest cryptocurrency exchange platforms, has repeatedly shown that he publicly and financially supports Elon Musk in taking control of Twitter .

“If Elon wins the deal, we’ll follow suit, otherwise we’ll get away with it, too.” “We hope we can contribute to Twitter in some way,” said Changpeng Zhao, CEO of Binance at Bloomberg.

Bitcoin essential for Twitter

During this meeting, he would have renewed his proposal on the addition of cryptocurrency payment to the platform.

In fact, without further details, Elon Musk would have mentioned his desire to integrate a payment system directly into the social network so that Twitter users can send and receive cryptocurrency.

A feature that more or less resembles a cryptographic version extension of PayPal on Twitter.

The incorporation of this novelty is part of its development project of three main axes for the social network:

  • News
  • entertainment
  • Payments

Finally, with the integration of such features, the billionaire expects Twitter to be “essential” to people’s lives, in his words.

A way for the billionaire to further drive the massive adoption of cryptocurrencies.

However, until the CEO of Tesla has full Twitter, his proposals will not be implemented. The sale of Twitter is still pending although it is well on its way after the recent approval by the social network’s board of directors.

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