August 9, 2023<\/p>\n\n\n\n
By Anjali Kochhar<\/p>\n\n\n\n
In a definitive statement, tech billionaire Elon Musk has put an end to years of speculation about Twitter or its rebranded version, X, launching their own cryptocurrency token. Responding to a Twitter user’s post that falsely claimed the launch of a crypto token by Musk and X, he straightforwardly said, “And we never will.”<\/p>\n\n\n\n
While this means that there won’t be a Twitter-led cryptocurrency initiative, it doesn’t rule out the possibility of cryptocurrency support or related features in X’s future plans. X is aiming to become an “everything app” after a significant rebranding effort.<\/p>\n\n\n\n
Elon Musk is well-known for his enthusiasm for Dogecoin (DOGE), a memecoin originally created as a playful gesture in the crypto community. Last year, Musk made headlines when he acquired Twitter for $44 billion and replaced its iconic blue bird logo with the image of a Shiba Inu dog, the symbol of Dogecoin. This move caused Dogecoin’s value to rise by 20% and led to Musk facing a $258 billion lawsuit alleging insider trading and racketeering.<\/p>\n\n\n\n
Musk’s involvement with digital assets has been marked by mixed signals and occasional hints. In 2021, developers of Dogecoin revealed that they had been working with Musk for years to create a more affordable and eco-friendly alternative to Bitcoin. Earlier this year, reports emerged suggesting that Twitter was developing a product to support cryptocurrency payments, but the specific token to be used remained undisclosed.<\/p>\n\n\n\n
While the possibility of a TwitterCoin or XCoin seems unlikely at the moment, the door does not appear to be completely closed for Musk’s future ventures involving cryptocurrency.<\/p>\n\n\n\n
Overall, Musk’s statement serves as a clear rejection of the rumours about a Twitter-led crypto token, but it leaves room for speculation about his potential future involvement with digital assets. As always, the crypto community will keep a close eye on Musk’s moves, given his history and influence in the space.<\/p>\n\n\n\n
About the author<\/strong><\/strong><\/p>\n\n\n\n Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.<\/p>\n","protected":false},"excerpt":{"rendered":" August 9, 2023 By Anjali Kochhar In a definitive statement, tech billionaire Elon Musk has put an end to years of speculation about Twitter or its rebranded version, X, launching their own cryptocurrency token. Responding to a Twitter user’s post that falsely claimed the launch of a crypto token by Musk and X, he straightforwardly […]<\/p>\n","protected":false},"author":4,"featured_media":3993,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[107],"tags":[],"class_list":{"0":"post-3992","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all"},"yoast_head":"\n