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Mystery Remains About Crypto’s Role, While Efforts Continue to Turn X Into Everything App
Summary
- Elon Musk has become the most followed person on X.
- Everything App is still about payments, but what about crypto?
- Billionaire Bill Ackman ready to work with Musk on IPO.
Most followed Person
Elon Musk’s follower count has surpassed 159 million, making him the most followed person on X. For context, his favorite crypto DOGE, has only 3.8 million followers on the platform. While many of Musk’s fans likely have an interest in DOGE, they may be quite happy to get any meme coin related announcements directly from the Dogefather. Even if it includes posts that jokingly talk about the new Twitter CEO.
Live Streaming and Xbox/ PlayStation Integration
Musk recently showcased a new feature on X, resembling features found on platforms like Twitch and YouTube. In a series of posts titled “Stream Test,” Musk demonstrated this feature to an audience of millions.
While Musk acknowledged that other platforms may still excel in certain areas, he believes there’s room for a more multipurpose app. It is anticipated that Xbox and PlayStation users will have access to the streaming service.
Although there was no mention of crypto integration, there have been revelations that other companies, including Microsoft, are also working on crypto wallets.
Everything App – Including Crypto?
Musk clarified that X won’t introduce a new cryptocurrency but has hinted at the possibility of crypto involvement in payments. With acquired currency transmission licenses, X has the potential to manage digital assets, including cryptocurrencies.
While the door for crypto integration is open, Musk’s immediate focus seems to be addressing scams, whether crypto-related or not.
Musk emphasizes the importance of combating spam, scams, and bot armies on X. He stated,
A top priority I would have is eliminating the spam and scam bots and the bot armies that are on Twitter. If I had a dogecoin for every crypto scam I saw, we’d have 100 billion dogecoin.
Elon Musk
Another Possible Collaboration
Billionaire Bill Ackman, CEO of hedge fund Pershing Square, has expressed interest in collaborating with Musk if he ever decided to take X public again. Such a move could bring new opportunities to Musk and his plans for a payment app, given X’s profitability struggles at present.
Ackman said,
If your large private growth company wants to go public without the risks and expenses of a typical IPO, with Pershing Square as your anchor shareholder, please call me. We promise a quick yes or no.
Bill Ackman
Despite Ackman’s interest, there has been no response from Elon Musk on the topic thus far.
Author
Aaron Feuerstein
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
