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 to the Twitter staff via videoconference. It is the first time that the American entrepreneur has addressed employees directly since the announcement of the acquisition. The social network has in fact accepted the entrepreneur’s offer in April.

During the exchange, the billionaire mentioned several key themes regarding Twitter’s future, such as easing restraint, reducing teleworking or the possibility of a reduction in the workforce.

Above all, Elon Musk felt it would be it makes sense to integrate payments into Twitter . Taking the example of WeChat, the essential multifunctional application in China, Tesla founder wants to turn Twitter into a platform that combines several tools. He specifies:

“So my goal would be to maximize the usefulness of the service: the more useful, the better. And if you can use it to make cheap payments, that’s an increase in utility “.

This must simplify sending money so internet users don’t have to leave Twitter, says Elon Musk. To set up this system, the business manager mentions the possibility of switch to cryptocurrencies.

👉 How to buy Bitcoin (BTC)?

A Twitter subscription paid in cryptocurrency?

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

Since the announcement of the Twitter acquisition, it also raised the idea that the Blu subscription, which offers access to premium options for $ 3 per month, can be paid for with cryptocurrencies. On his behalf, Elon Musk even suggested that this subscription could be paid for in Dogecoin (DOGE).

Under Jack Dorsey’s leadership, Twitter had already done so gradually open up to cryptocurrencies. Last year, the social network added the ability to tip in Bitcoin via the Lightning Network. A few months later, Ether was added to the flagship option.

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

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

Source: Vox

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