Elon Musk and the mega app concept he introduced is one of the hottest topics on the technology agenda. If such an application is implemented, crypto money integration is considered as certain.
Elon Musk’s new app will have a crypto wallet with Bitcoin and Ripple payments
Tesla CEO is apparently working on a social media platform with crypto wallet features. The arguments were put forward by renowned tech blogger Jane Manchun Wong. But the information about the bet is not clear now. Musk previously announced that Twitter will help speed up its all-in-one application called X-App.
It is very likely that Bitcoin, Ripple and Dogecoin (DOGE) are involved in this plan of Musk. Koindeks.com As you follow, the unknown messages of the Tesla CEO emerged in the case between Twitter and Elon Musk. However, there is also the possibility that Musk will produce a new token for the X application. The tech billionaire wants to build an all-in-one platform, like the ones known in Asia, including WeChat. Therefore, the billionaire aims to open the western market through his recognized views.
What is X-App
Musk first mentioned the X-App in an October 5 tweet. However, he did not provide more information on how it would be implemented. The assumptions are that it will be a platform like WeChat, which has become almost everything app in China over the past decade. Musk actually brought it up in a podcast. Such platforms are used to make doctor appointments or perform countless other daily activities.
Elon Musk leverages the capabilities of the crypto market
For years, Musk has been a big advocate of “sound money” to expand into global markets. He also triggered the start of the 2021 bull and Dogecoin rally with his tweets. In particular, Musk will compete with the likes of Meta with the new app. The prospect of incorporating cryptocurrencies into its new app means millions of people rely on it.
The billionaire has until Friday to close Twitter’s $44 billion buyout deal. Otherwise, he faces a legal trial, which is postponed for some technical reasons. Notably, Musk has stayed away from Twitter acquisitions in the past due to high reports of unwanted bots. Twitter shareholders will benefit greatly from the treaty.
According to information provided by MarketWatch, Twitter has a market capitalization of approximately $38.18 billion with a share of 765.25 million. A $44 billion acquisition would mean over $6 billion in profit for the struggling social media giant. It is worth noting that TWTR shares have increased by about 30 percent in the last three months following the buying sentiment.