$BTC : Elon Musk Confirms Major Changes In Bitcoin and Crypto Prices
Elon Musk, the billionaire best known for his Tesla company, has quietly confirmed a major change in the bitcoin and crypto markets. While Musk issued a "super-fast" bankruptcy warning in the US, he also confirmed a new play in the crypto market.
Musk sparked fresh speculation about payments at the social media company he bought and renamed Twitter when he shared a screenshot of the app showing a "$" button. App researcher Nima Owji stated on X, "My speculation is that the '$' button is used to send money to someone as part of X Payments," to which Musk replied with "Correct."
This confirmation has caused the price of meme-based dogecoin, which has long been trading on hopes that Musk will expand his support for the cryptocurrency on X, to rise.
X, which Musk plans to develop as an "everything app" like China-based WeChat, has quietly been acquiring money transfer licenses across the US in recent years.
Since Musk bought Twitter and renamed it X, there has been widespread speculation that he might add support for bitcoin, dogecoin, and other cryptocurrencies like ethereum and XRP, similar to what PayPal did in late 2020—which sparked a bitcoin price spike in 2021.
Be careful! This development could have a major impact on the crypto market.
