Elon Musk’s X Platform Removes Bitcoin Hashmoji, Community Revolts

The removal of BTC hashmoji by the X platform has sparked a wave of curiosity and discussion among crypto enthusiasts. The DOGE team and X insider DogeDesigner confirmed the change, stating that only the Bitcoin hashtag remains functional. Despite widespread speculation, no concrete explanation has been given as to the reasons for the change, leaving the crypto community in a state of shock.

The removal of Bitcoin hashmoji did not go unnoticed. Influential figures such as JAN3 CEO Samson Mow, early Bitcoin advocate Jeremy , and trader @TheMoonCarl weighed in on the matter. Their reactions ranged from bewilderment to critical analysis, reflecting the broader sentiment within the community. The removal of hashmojis appears to be a universal practice across a variety of cryptocurrencies, adding another layer of curiosity.

Elon Musk’s electric vehicle company Tesla still holds a significant amount of Bitcoin. According to Tesla’s Q1 2024 earnings report, the company still holds $184 million worth of Bitcoin. This is significantly down from the original $1.5 billion purchase in February 2021. This decision, which initially sent Bitcoin’s price to record highs, has Tesla continuing to hold Bitcoin on its balance sheet, despite the suspension of Bitcoin for vehicle payments due to environmental concerns.

Tesla’s continued BTC holdings, despite their decline, show a cautious but sustained interest in the cryptocurrency market. By holding this asset, Tesla not only gains exposure to Bitcoin’s long-term potential, but also maintains its interest in the digital currency space. This approach takes a nuanced stance on institutional cryptocurrency investment, balancing environmental concerns with financial strategy.

By focusing on legal, regulated payment systems, X aims to solidify its role in the digital financial ecosystem without the complexity of issuing a new cryptocurrency. Musk’s approach favors integrating established financial mechanisms rather than developing new digital assets.