Elon Musk says X payments likely by mid-2024

cyptouser4 months agoCryptocurrencies News70

Elon Musk provided a new estimate concerning the launch of payment features on X (formerly Twitter), as reported by Fortune on Dec. 22.

Musk said that X will likely introduce payment features in mid-2024. Musk appeared to emphasize a focus on traditional currency: he argued that money acts as a “database for resource allocation” and sufficiently serves this purpose so long as governments do not interfere with the system excessively.

He also downplayed the importance of cryptocurrency in general, stating: “I don’t spend a lot of time thinking about cryptocurrency—hardly any at all.”

In recent months, X has obtained licensing in several U.S. states that will allow it to handle peer-to-peer payments and other money transfers in a manner that is similar to PayPal. The company obtained the most recent of those licenses in Pennsylvania in mid-December, increasing its licenses to 13 in total.

Musk has stated that X plans to offer various money features, including securities investments and the ability to handle users’ “entire financial life.” Past estimates suggested that X’s financial features would be available by the end of 2024.

Musk spoke to Ark Invest’s Cathie Wood

Musk made his latest statements in an X Spaces conversation with Ark Invest CEO Cathie Wood, whose firm is currently attracting attention for another reason.

Ark Invest, in partnership with 21Shares, is one of many spot Bitcoin ETF applicants. Its application is the first due to receive a decision U.S. Securities and Exchange Commission (SEC), on Jan. 10, 2024. Its first-in-line status, combined with recent engagement with the regulator, has led many experts to believe that the SEC will approve a spot Bitcoin ETF by the Jan. 10 deadline.

The latest conversation, however, is seemingly connected to Ark’s investment in Tesla. Reports from MarketWatch indicate that Ark Invest purchased 111,387 shares of Musk’s Tesla on Dec. 20 and that Wood was an early investor in Tesla.

The content on this website comes from the Internet. Due to the inconvenience of proofreading the authenticity and accuracy of the copyright or content of some content, it may be temporarily impossible to confirm the authenticity and accuracy of the copyright or content. For copyright issues or other issues caused by this, please Call or email this site. It will be deleted or changed immediately after verification.

related articles

Uniswap Foundation moves more than $40M worth of UNI tokens to crypto exchanges

Uniswap Foundation has dumped nearly 10 million UNI tokens, worth more than $40 million, to crypto e...

Tron’s Bitcoin layer 2 plan could see ’wrapped’ USDT flow into Bitcoin

Tron’s Bitcoin layer 2 plan could see ’wrapped’ USDT flow into Bitcoin

25cc9d4a˃Layer-1 blockchain Tron is considering a Bitcoin layer-2 solution that would support a “wra...

OpenAI semiconductor chip plans entice UAE investors: Report

25cc9d4a˃OpenAI’s intentions to produce its own semiconductor chips for powering high-level artifici...

Binance CMO praises crypto ability to give people 'control' yet questions the state of public 'trust'

Binance CMO Rachel Conlan has presented a bullish outlook on the future of the crypto industry despi...

Bitcoin Cash open interest surges past $700M ahead of BCH halving

Bitcoin Cash open interest surges past $700M ahead of BCH halving

25cc9d4a˃Bitcoin Cash (BCH) is currently trading at $574.84, having jumped 9.06% over the past 24 ho...

Bitcoin's halving won't see a 600% return this year — so adjust your strategy

Bitcoin's halving won't see a 600% return this year — so adjust your strategy

92485d12˃The clock is ticking on Bitcoin’s (BTC) halving and it appears the ETF mania has accelerate...