Elon Musk, the billionaire Tesla who accidentally caused crypto price chaos this weekhas hovered on the fringes of the crypto world in recent years.
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Bitcoin price soared to $100,000 per bitcoin last year sparked unprecedented interest in bitcoin and crypto among Wall Street giants and entering US President Donald Trump—as Musk declared a “financial emergency.”
NOW, as China struggles to contain a crisis that some say could send the price of bitcoin skyrocketingA leak has revealed that Elon Musk’s X could be set to “imminently” launch a game-changing Bitcoin and cryptocurrency.
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Tesla billionaire and X owner Elon Musk is known for causing huge swings in Bitcoin prices.
“New X code has just shipped, revealing that X Payments will launch without approval from all 50 states,” said X influencer Alex Finn. job to the platform. “Which means X Payments could launch today.”
Since Musk bought Twitter and renamed it X, he has acquired money transmitting licenses in states across the country as part of a grand plan to make WeChat in China.
“It appears that X is planning to launch X Money in the United States before getting approval in all 50 states,” MacRumors contributing researcher Aaron Perris said. job to the platform with a screenshot of the code, which has not been verified by the company itself.
Earlier this week, X CEO Linda Yaccarino confirmed payments will come to the social media platform in 2025 in the form of X Money with a host of other features, telling people to “buckle up”.
X Money’s confirmation sparked wild speculation that the platform could use or support bitcoin, crypto or dollar-pegged stablecoins that use crypto technology to speed up and lower the cost of transactions, the company Musk’s SpaceX rockets having recently been related to Tether’s dominant USDT stablecoin.
“X payments, one way or another, will support cryptocurrency”, Finn predicted in X show. “Crypto will likely represent a good amount of rails for (X) payments.”
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Bitcoin price soared to around $100,000 per bitcoin, helped by Wall Street adoption, Donald … (+)
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Although Musk has refrained from commenting directly on bitcoin or crypto in recent years, his support for Trump in the run-up to November’s U.S. presidential election helped drive the price of bitcoin higher as traders bet on Trump at the head of a pro-bitcoin and crypto administration.
Musk also campaigned against US overspending, resulting in the creation of the Doge Department Of Government Efficiency, which Musk said he believes U.S. spending could be cut by $2 trillion..
The Doge department is a nod to the shiba inu doge meme which is also linked to the cryptocurrency dogecoin, referred to by Elon Musk as his “favorite” cryptocurrency and accepted as payment by his car manufacturer Tesla, although that Tesla continues to hold around 10,000 bitcoins. $1 billion on its balance sheet.