A major step forward has been made with the announcement of a dedicated account for Elon Musk’s innovative platform X (previously Twitter), which is expected to launch its payments feature later in 2024. The idea of incorporating cryptocurrencies into X’s payment ecosystem has sparked conjecture among cryptocurrency aficionados as a result of this action.

The Expectation of In-App Purchases

It’s widely expected that the X app will launch in-app purchasing capabilities by the middle of 2024. The specifics are yet unknown, though, so aficionados are left to wonder if the payment option will handle currencies other than typical fiat ones.

An Emerging XPayments Account

There are still no posts in the recently opened XPayments account on X as of January 21. The account, however inactive, has an X badge indicating its affiliation with the X platform and a gold badge suggesting it is a verified organization.

Crypto researcher Mason Versluis shared his enthusiasm for X, which has 169,000 users, and speculated that other cryptocurrencies beginning with “X”—like XRP, Stellar, and XDC—might be added to the app. There is also conjecture surrounding the possible incorporation of Dogecoin, which Musk has previously included in Tesla’s retail store.

Musk’s Propensity for Dogecoin

Elon Musk has demonstrated his love for Dogecoin by accepting the cryptocurrency as payment for Tesla products. Since Musk has already interacted with Dogecoin, many in the cryptocurrency world feel that it is the most likely choice to be listed on X.

The cryptocurrency community has been closely examining X and Musk’s oblique references to their interest in cryptocurrencies. Users of Dogecoin debated the possible significance of a dog answering a phone call meme that X shared in October 2023.

X’s Attention Shift

In contrast to the increased expectation for cryptocurrency integration, 36,200-user crypto researcher Tokenicer thinks X has turned its focus away from content related to cryptocurrency. He brought up the fact that in 2023, X introduced an ad revenue-sharing scheme that enabled content producers to make money off of their work on the app. Tokenicer, who cites a drop in his revenues from X, claims a reduction in payouts for crypto material.

Since Elon Musk bought Twitter in April 2022, many have made predictions on how the site would change and whether or not cryptocurrency would be integrated. Musk’s July 2023 vision statement suggests that X will eventually provide customers with the “ability to conduct your entire financial world.”

The cryptocurrency community is still waiting impatiently for X to announce its position on cryptocurrency integration as the platform gets closer to launching its payments feature. With the launch of the dedicated XPayments account, X’s journey has entered a new phase, prompting enthusiasts to speculate about the potential role cryptocurrencies could play in Elon Musk’s grand “everything app.”