Elon Musk is known for making changes to Twitter. One of the most recent changes that he made was to change the brand identity to X, just a single alphabet. However, one change that he has confirmed to never make on the platform is of launching its native token. Meaning X (formerly Twitter) will never have its native cryptocurrency.
The confirmation comes after a Twitter user, who goes by the id @DogeDesigner, said that there were pieces of news claiming that Musk and X will have a native token in the times to come, adding that they never made any progress in that matter. Elon Musk came up with a one-liner to defend that there are no plans anyway. And we never will, said Musk, who has become synonymous with cryptocurrency.
While the doors to a native token are closed, there is no confirmation that X will never ever accept any other cryptocurrency on the platform. X accepts payments for its subscription services. That currently includes executing a transaction in fiat currency only. There is still a chance that he may add digital tokens to the list, asking users to settle their transactions with their cryptocurrency instead of a fiat currency.
This is a speculation based on the idea that Musk has been a believer in cryptocurrency for a long time. Given an opportunity, he would very well extend the payment line-up for the global community. This would enable everyone to subscribe to the services of X with their digital holdings while eliminating the need for currency conversion.
X has been teased to become an everything app. The roadmap is unclear, but it can now be assumed that the functionality of cryptocurrencies may be integrated with X.
The speculation is also based on the idea that there has been a discussion between Elon Musk and the developers of Dogecoin. The developers suggested integrating their tokens into the platform. In 2021, there was also a talk about how developers were working to create an economical alternative to BTC.
This development comes as the global crypto market is down by 0.33% to be valued at $1.16 trillion. Bitcoin is leading the cause at the exchange value of $29,017.64, further away from the desired mark of $30k. Ethereum is rather closer to the $2k mark with a value of $1,830.92. Both numbers are true at the time of articulating this piece.
Interestingly, his response also comes closer to the moment when he has assured to cover the legal expenses of a Twitter user who was unfairly treated by their employer for engaging with content on the platform. No one knows if this is a joke or a way to interact with the community, but it does shed some light on the way he comes up with lines to take the users of his own platform by storm.
