Elon Musk and the concept of mega app 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 allegations were made by the famous tech blogger Jane Manchun Wong. However, the information on the subject is not clear yet. Musk previously announced that he would help speed up Twitter’s all-in-one app called X-App.
Twitter is working on a “wallet prototype” that supports “crypto deposit and withdrawal”
— Jane Manchun Wong (@wongmjane) October 24, 2022
It is very likely that Bitcoin, Ripple and Dogecoin (DOGE) are involved in this plan of Musk. As you follow on Kriptokoin.com, the secret messages of the Tesla CEO were revealed in the lawsuit 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 create an all-in-one platform like the popular ones in Asia, including WeChat. Therefore, the billionaire aims to open up the western market through his popular views.
What is X-App
Musk first mentioned the X-App in an October 5 tweet. However, it did not provide any further information on how it would be implemented. Estimates are that it will be a WeChat-like platform that has become nearly everything app in China over the past decade. Musk has already voiced this in a podcast. Such platforms are used to make doctor’s appointments or perform countless other daily activities.
Buying Twitter is an accelerant to creating X, the everything app
— Elon Musk (@elonmusk) October 4, 2022
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 including cryptocurrencies in his new app means the support of millions of people.
The billionaire has until Friday to close Twitter’s $44 billion buyout deal. Otherwise, he faces a legal trial that 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 deal.
According to data provided by MarketWatch, Twitter has a market capitalization of approximately $38.18 billion, with 765.25 million shares outstanding. A $44 billion acquisition would mean over $6 billion in profit for the struggling social media giant. It’s worth noting that TWTR shares have risen nearly 30 percent in the past three months following buy sentiment.
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