“Elon Musk’s groundbreaking X plan to revolutionize the financial landscape by replacing traditional banks and PayPal is causing a frenzy of speculation, fueling wild Bitcoin and cryptocurrency price predictions as the world braces for a potential ‘critical mass’ moment.”
In a leaked internal call, Elon Musk, the billionaire behind Tesla and X (formerly known as Twitter), shared his grand plan for the platform. Musk revealed his intention to grow X’s financial services arm to rival banks and PayPal by the end of 2024, calling it “mind-blowing.” This plan has sparked excitement within the bitcoin and crypto community, with some speculating that it could trigger a “critical mass” of crypto adoption, similar to what happened when PayPal adopted bitcoin in 2020. Musk clarified that the platform’s payment features would encompass someone’s entire financial life, eliminating the need for a bank account. While rumors have circulated about X adding payment, financial, and banking features, Musk denied reports of launching a cryptocurrency of its own. Instead, he may consider using bitcoin’s blockchain technology. Some experts believe that Musk’s plans could coincide with the upcoming halving event in the bitcoin market, causing price volatility. It remains to be seen how Musk’s vision for X will unfold, but the leaked call has certainly generated significant interest and speculation.