#BTCOutlook
Now, as billionaire Elon Musk issues a “very quick” warning about bankruptcy in the US, the owner of X has quietly confirmed a major shakeup in the Bitcoin and cryptocurrency markets.
Musk sparked a new round of speculation about payments on the company he bought and rebranded from Twitter when he shared a screenshot of the app that included a $ button.
“My guess is that the $ button is used to send money to someone as part of X payments,” app researcher Nima Oji wrote on X—to which Musk responded: “Correct.”
The verification pushed the price of the meme-based Dogecoin, which has long been trending on speculation that Musk might expand support for the cryptocurrency to X.
X, which Musk plans to develop into an “all-in-one app” similar to China’s WeChat, has been quietly gaining money-transfer licenses across the US for the past two years.
Ever 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 in a similar way to what PayPal did in late 2020—sparking the Bitcoin price explosion of 2021.
