Elon Musk wants to add cryptocurrency payments to Twitter

Elon Musk proposes to integrate cryptocurrency into Twitter

This Thursday, June 16, 2022, Elon Musk spoke with Twitter staff over a videoconference. This is the first time that the American businessman has spoken directly to employees since the announcement of the takeover. The social network has indeed accepted the offer of the entrepreneur in April.

During the exchange, the billionaire mentioned several key topics concerning the future of Twitter, such as the relaxation of moderation, the reduction of teleworking or the possibility of a reduction in the workforce.

Above all, Elon Musk felt that he would be makes sense to integrate payments into twitter ». Taking the example of WeChat, the essential multifunction application in China, the founder of Tesla wants to transform Twitter into a platform combining several tools. He specifies :

“So my goal would be to maximize the usefulness of the service – the more useful the better. And if one can use it to make convenient payments, that is an increase in utility”.

This must make it easy to send money » so that Internet users do not need to leave Twitter, argues Elon Musk. To set up this system, the business manager mentions the possibility of turn to cryptocurrencies.

👉 How to buy Bitcoin (BTC)?

A Twitter subscription paid for in cryptocurrencies?

The richest man in the world has never hidden his interest in the world of cryptocurrencies. Elon Musk also considers Bitcoin (BTC) and Ether (ETH) as protection against inflation. Last year, he even pledged that Tesla would once again accept Bitcoin payments.

Since the Twitter takeover announcement, he has also raised the idea that the Blue subscription, which offers access to premium options for $3/month, can be paid for with crypto-assets. On his account, Elon Musk even suggested that this subscription could be paid in Dogecoin (DOGE).

Under the leadership of Jack Dorsey, Twitter had already gradually open to cryptocurrencies. Last year, the social network added the ability to tip in Bitcoin through the Lightning Networkd. A few months later, Ether was added to the tip option.

Twitter has also embarked on non-fungible tokens (NFT). The platform allows its paid Blue users to verify a profile picture as an NFT. The integration of crypto-assets on Twitter is unlikely to stop there.

👉 Read also: Binance participated for $500 million in the acquisition of Twitter by Elon Musk

Source: Vox

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About the Author : Florian Bayard

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