Elon Musk Says Bringing Crypto to Twitter Is a ‘No Brainer’ As Social Media Altcoin Rumors Spread

The addition of crypto payments would be a natural suitable for Twitter, according to the business’s brand-new CEO Elon Musk.

In a brand-new Twitter Areas hosted by Mario Nawfal, Musk talks about his vision for the future of the social networks powerhouse, consisting of the capability to negotiate in both digital and conventional currencies.

“WeChat has a great deal of performance that Twitter must have. It’s type of a no brainer for Twitter to have payments, both fiat currency and crypto, and to make that simple and basic for individuals to utilize.”

Musk’s remarks come as reports that Twitter might be dealing with its own cryptocurrency start to spread out.

A scientist called Jane Manchun Wong claimed to have actually discovered a picture of a “Twitter Coin” buried within Twitter’s web app. Wong’s account is no longer on Twitter and all tweets explaining the possible crypto combination have actually been erased.

Musk states he thinks crypto properties will eventually discover their footing as an examine reserve banks and worldwide financial policies.

“I do believe there is a function for crypto in the future without talking to any specific crypto coin, as a method of making sure that the financial system does not get entirely damaged. It basically offers competitors to the fiat system. So if the fiat system ends up being extremely limiting, crypto will grow.”

Musk does not see much usage for government-controlled Reserve bank Digital Currencies (CBDCs), stating much of the financial system is currently digital.

[Money] is digital, however not in an excellent method. And whether banks produce a few of their own cryptocurrencies, I believe it’s rather unimportant. Individuals will utilize the cryptocurrencies that they believe will accumulate worth gradually and not utilize the ones that that do not.”

Included Image: Shutterstock/Ersa Langgeng Prasetyo/Sensvector