As always, Elon is fast on his mouth and on his keyboard as well. He is in the middle of buying one of the biggest social media networks, Twitter. And he is focusing on the ‘improvements’ of the social media.
Elon Musk’s idea is to implement the three main reasons someone goes on the internet. Then, put them together in a single Twitter app. Entertainment, news, and payments. Something people can’t live without. It will be a true ‘super-app’, as the billionaire says.
Will You Be Able To Pay With Crypto Via Twitter Once Elon Takes Over
There are several improvements that are to be introduced immediately, like balancing censorship and making various software improvements. But, one of these improvements pops out and he is especially proud to announce it. That is including the possibility to send and receive payments via the platform. Before you ask let us inform you directly – the platform will accept crypto payments.
“I think it would make sense to integrate payments into Twitter. Like that it’s easy to send money back and forth. And if you have currency as well as crypto. Essentially, whenever somebody would find it useful.” – Musk says at the Q&A with Twitter employees.
All of us that follow Musk and see his daily activities on Twitter are aware that he invests in crypto. One currency in particular – Dogecoin. Until now, Musk is able to ‘help’, or fuel the price of the Dogecoin several times. He does this simply by tweeting and speaking about it. However, the price seems to go down fast, now more than ever.
And how do you make some currency to stay stable and secure? By incorporating it in already developed applications and companies, or linking it with some physically valuable materials like gold. Musk already encourages people to buy Tesla cars with crypto, so this is not something that comes as new to him.
Incorporating crypto in general, and Dogecoin, in already developed applications would be an easy task for Musk. Especially now, once he acquires Twitter. Dogecoin will most certainly be one of the main cryptocurrencies that will be accepted for payment on the platform.
However, in the past period, cryptocurrencies start to have a major fall in value. Bitcoin is down by almost 60% since the beginning of the year. Dogecoin is down by 60% as well, and Ethereum by 70%.
Now, Elon Musk is even facing a lawsuit by crypto investors. They are accusing him of running a pyramid scheme by supporting Dogecoin. Since his appearance on The Saturday night Live show back in April, the value of Dogecoin is down by more than 50%.
But is there a solid base to accuse him of such a thing? Everybody is free to support whatever he feels like supporting. He is not making anyone forcefully invest in Crypto.
https://www.youtube.com/watch?v=3_Ooq7y7mBY
