Elon Musk made it crystal clear this past Saturday, Aug. 5, that his social media titan, X (previously known as Twitter), isn’t jumping on the crypto bandwagon anytime soon. This came as a response to a whirlwind of chatter about some fishy X and Twitter-based digital currencies making the rounds.
DogeDesigner, a keen observer, threw a spotlight on the shady tokens, like X (X) and TwitterDAO (TWITTER), falsely touting ties with the social media mammoth. In a no-nonsense manner, DogeDesigner advised the crypto crowd to tread carefully when dealing with these scam tokens. He went on to clarify that neither Musk nor X had ever taken a stab at launching a crypto token. Musk chimed in with a simple, resounding, “And we never will.”
It’s true that Musk had been dropping breadcrumbs about the possibility of embracing cryptocurrency as a payment option on X, leaving traders on the edge of their seats. The million-dollar question: would he introduce a specific crypto token or remain faithful to his first love, Dogecoin?
But when Linda Yaccarino took the helm as the new CEO, there were whispers about the odds of a DOGE integration. Despite this, Musk’s recent remarks have rekindled the hope burning in the hearts of Dogecoin investors.
I hope this doesn't rule out embracing blockchain technology entirely. Blockchain can still offer many benefits to 𝕏, like transparency, security, and decentralized operations. Keen to see how 𝕏 may leverage this tech in the future! pic.twitter.com/qbXxXUDir4— Caius Lai (@xCaiusLai) August 5, 2023
Not too long ago, Musk unveiled his grand scheme to metamorphose Twitter into a jack-of-all-trades platform, dubbed X. In July, the “everything app” was officially born, as Twitter was rebranded to X.
No sooner had Musk confirmed he had zilch intention to dive into the crypto-token pool, than the value of Dogecoin ticked up over 2% within a few hours, as per CoinMarketCap. Just goes to show, a little word from Musk can certainly shake things up in the world of crypto!