Payments speculations on Elon Musk’s X Platform ignite a Dogecoin rally

July 25, 2023 09:47 PM AEST | By Invezz

Payments speculations on Elon Musk’s X Platform ignite a Dogecoin rally — Image source: Invezz

Speculations about Dogecoin use on the X platform

Analysts predict that DOGE may become more useful on Twitter’s newly renamed “X” platform. It’s widely believed that in the near future, Twitter may start to accept DOGE tokens for a variety of uses, including ad payments. These discussions have been sparked by owner Elon Musk’s interest in the meme coin.

For instance, Musk previously suggested that Twitter Blue, the site’s subscription service with premium features, might accept DOGE payments. Additionally, Musk’s electric car company Tesla already accepts DOGE for merchandise purchases, suggesting that DOGE may catch on more widely.

According to reports, Twitter is developing a payment system for its platform. Musk stated that he wanted the system to initially support fiat currencies while leaving the door open to later add cryptocurrencies.

Although it is not clear whether X will incorporate cryptocurrencies in its payment system, Musk has confirmed that the company is developing a payment system in a recent tweet where he said “X will soon add the ability to “conduct your entire financial world” on the platform.”

The post Payments speculations on Elon Musk's X Platform ignite a Dogecoin rally appeared first on Invezz

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