Elon Musk, the billionaire of Tesla known for his market-shaking actions in cryptocurrency, is preparing a game-changing plan with "X Money". This project could reshape the future of digital payments as the price of Bitcoin approaches the record level of $100,000.
Elon Musk Prepares for "X Money"
Since acquiring Twitter and rebranding it as X, Elon Musk has continuously expanded this platform with the goal of turning it into a "super app" similar to WeChat in China. Part of this plan involves him acquiring money transfer licenses in several states in the US to facilitate the launch of X Money – X's payment system.
According to disclosed sources, X Money is expected to be implemented without the approval of all 50 states in the US. This is a bold move, reflecting Musk's ambition to dominate the digital payment space. Linda Yaccarino, CEO of X, also confirmed that this payment system will launch in 2025 and urged users to "get ready."
X Money is said to support Bitcoin, cryptocurrencies, or stablecoins pegged to the US dollar to reduce costs and increase transaction speeds. This could make X Money a revolutionary payment platform in the global cryptocurrency ecosystem.
Theo Alex Finn, a well-known figure on platform X, X Money has the ability to use blockchain technology to create "rails" for cryptocurrency transactions. This not only helps expand the accessibility of cryptocurrency but also promotes its acceptance in everyday transactions.
How Are Bitcoin and Related Factors Changing?
The price of Bitcoin is currently approaching the $100,000 mark, attracting unprecedented interest from major corporations on Wall Street and the new US administration. However, the value of this currency is also under pressure from the economic crisis in China – a factor that is believed to potentially cause significant market volatility.
Elon Musk, who once stated that the world is facing a "financial crisis," may leverage this instability to promote the X Money plan. This helps bring Bitcoin and other cryptocurrencies to the center of the global digital economy.
If successful, X Money could reshape how people conduct daily transactions, turning this platform into a global payment hub. With support from blockchain technology and cryptocurrencies, X Money promises to reduce costs, speed up transactions, and provide higher transparency compared to traditional methods.
Not stopping there, the integration of direct payment features into the social network X also opens up the possibility for seamless payments between users, businesses, and service providers worldwide. This would be a significant step towards digitizing the world economy.
DYOR! #Write2Earn #Write&Earn $BTC