Elon Musk Supports Idea of Crypto Payments on Twitter

UTC by Bhushan Akolkar · 2 min read
Elon Musk Supports Idea of Crypto Payments on Twitter
Photo: Depositphotos

The crypto industry is hopeful that if Musk becomes the owner of Twitter, he would bring digital payments to the platform.

The world’s richest man and billionaire Elon Musk has been conducting some ongoing discussions about his $44 billion Twitter acquisition deal. While speaking at a virtual all-hands meeting for Twitter, Musk said it makes “sense” to integrate crypto payments into Twitter.

Musk further added:

“Money is fundamentally digital at this point and has been for a while. It would make sense to integrate payments into Twitter so it’s easy to send money back and forth”.

There’s been some public wavering recently about Musk’s purchase of Twitter. But things appear to be on track for now and Musk attending the meeting on Thursday shows some level of commitment.

Binance CEO Changpeng Zhao has also reaffirmed support for Musk’s Twitter buyout. During his recent Bloomberg interview, Zhao said that he would be disappointed if Musk drops off the Twitter deal. “He’s leading, we’re following,” said the CEO. “If he goes through with the deal, we’re committed. If he doesn’t, then I think we’re off.”

The crypto industry is hopeful that if Musk becomes the owner of Twitter, he would bring digital payments to the platform. Elon Musk has been an ardent supporter of Dogecoin and even spoke about the idea of introducing DOGE payments to Twitter.

Elon Musk Sued for $258 Billion

In another major turning event, American citizen Keith Johnson has sued Elon and his companies Tesla and SpaceX for a staggering $258 billion.

In the lawsuit filed at the federal court in Manhattan, Johnson has accused Musk of defrauding investors in a DOGE pump and dump scheme. The complaint notes:

“Defendants were aware since 2019 that Dogecoin had no value yet promoted Dogecoin to profit from its trading. Musk used his pedestal as World’s Richest man to operate and manipulate the Dogecoin Pyramid Scheme for profit, exposure and amusement”.

Elon Musk has been an ardent supporter of Dogecoin over the last few years. In fact, he has also introduced DOGE payments to the Tesla and SpaceX merchandise stores. Needless to say, Musk’s relentless support of DOGE has helped it become one of the top ten cryptocurrencies.

However, Johnson is now seeking damages worth $86 billion from Musk and an additional $172 billion from his two companies.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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