Elon Musk’s statement sparks wild speculation that he might be on the verge of skyrocketing the price of Bitcoin, Ethereum, XRP and Dogecoin

Update 08/06 below. This article was originally published on August 4

Bitcoin, ethereum and other major cryptocurrencies including meme-based dogecoin and Ripple’s XRP
came dangerously close to Armageddon last month.

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Bitcoin’s price rise this year has come to a halt after bitcoin has doubled since the start of the year, with surprise White House contender Robert F. Kennedy Jr. (RFK Jr.) issuing a shock warning on the “slavery” of bitcoin.

Now, with crypto watchers already bracing for a major earthquake next year, traders are bracing for mercurial billionaire Elon Musk to throw (yet another) grenade into the crypto market that could wreak havoc with the price of bitcoin, ethereum, XRP, dogecoin, and other major coins.

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Musk’s X, the social media platform owned by billionaire Tesla and widely known as Twitter, plans to turn the app into a financial data giant with an in-app trading platform. was reported by Semaforciting anonymous sources and a leaked document he claims was sent by X to financial data providers, requesting quotes for financial content, real-time stock data and other features.

Update 6/8: Musk has strongly denied that X will launch its own cryptocurrency to compete with bitcoin, ethereum, XRP or dogecoin, potentially fueling expectations that the company will integrate existing cryptocurrencies .

“Elon Musk and 𝕏 never launched a crypto token,” an X dogecoin fan account posted on the site alongside screenshots of headlines falsely claiming he did. Musk replied“And we never will.”

Musk’s post was inundated with responses from people speculating that the confirmation meant the meme-based bitcoin rival dogecoin would eventually be embraced by the social network.

“Real-time information is a powerful force, especially in the investment world,” the RFP states, adding, “Twitter’s real-time public platform has become the heart of the financial community. .”

However, although some data providers have indicated they would be interested in the work, Musk has denied knowledge of the plans. “To my knowledge, no work is being done on this topic,” Musk said. job to X (Twitter) after the report was published.

“X is an increasingly important part of the DIY investor community,” an eToro representative said. Semafor. “We are extremely excited to see how X will develop and are in close contact with the team around future projects.” Trading app Robinhood’s stock price fell sharply after the report was released.

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“Cryptocurrencies have become an integral part of the financial world, so including them as a payment option for the rebranded Twitter platform would make perfect sense,” Louis Schoeman, managing director of Forex Suggest, said in comments. by e-mail.

“Just in April, Musk teased dogecoin payments could be coming to Twitter when he suggested dogecoin could be a payment option for the platform’s premium service, Twitter Blue. The fact that Tesla
already accepts payments in dogecoin in its online store sets a precedent for its inclusion in other parts of Musk’s business empire, with X being the next logical step in this process.”

Musk has repeatedly said that he wants to turn X (Twitter) into a super WeChat-style app that sings and dances. Last month, Musk briefly added the dogecoin symbol Ð to his X account, with bitcoin and crypto market watchers predicting that Musk’s plans for X could be an “absolute game changer.”

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