Elon Musk, the company’s new CEO, says that it would make sense for Twitter to accept crypto payments.
In a new Twitter Spaces show hosted by Mario Nawfal, Musk talks about how he sees the social media giant developing in the future, including the ability to use both digital and traditional currencies.
“WeChat has many features that Twitter should also have. It seems like a no-brainer that Twitter should accept payments in both fiat currency and cryptocurrencies and make them easy to use.
Musk’s comments come as rumors start to spread that Twitter might be making its own cryptocurrency.
Jane Manchun Wong, a researcher, said she had found an image of a “Twitter Coin” hidden in Twitter’s web app. Wong’s Twitter account has been deleted, and all tweets about the possible crypto integration have been taken down.
Musk says he thinks crypto assets will find their place as a check on central banks and global monetary policies in the long run.
“I do think that crypto will play a role in the future, but I don’t want to talk about any specific crypto coin. It could be a way to make sure that the money system doesn’t get completely messed up.” It basically gives the fiat system something to compete with. So, if the fiat system gets too tight, crypto will grow.”
Musk doesn’t see much use for Central Bank Digital Currencies (CBDCs), which are digital currencies controlled by the government. He says that most of the money system is already digital.
Digital money is not a very good thing. And I don’t think it really matters if banks make some of their own cryptocurrencies or not. People will use the cryptocurrencies they think will gain value over time and not use the ones they think won’t.”
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