Highlights
- Speculation about Bitcoin’s integration into Elon Musk’s X Money is gaining traction.
- Bitcoin has helped Elon Musk’s Tesla to recorded net income of $600 million in Q4.
- X CEO said that X Money has partnered with Visa, further fueling market sentiment.
In recent developments, speculations have soared over Elon Musk’s X Money to include Bitcoin after BTC pushed Tesla’s Q4 net income to $600 million. What’s strengthening this speculation is a post by X CEO, Linda Yaccarino about a newly entered partnership with Visa. It will initially allow users to move funds like Zelle or Venmo. Nevertheless, speculation about Bitcoin’s integration into X Money is gaining momentum.
Elon Musk’s X Money to Have Bitcoin?
Defined as a milestone, the CEO of X, Linda Yaccarino, has said that X is a step closer to becoming an ‘everything app’. She has published a post on X to announce the partnership between X Money and Visa which will enable users to move their funds between traditional banks and digital wallets. X Money could go live later this year and Linda has said in her X post that this was the first of many big announcements to come.
What has triggered the speculation of BTC’s inclusion is the association of Elon Musk with the crypto sphere. This is evident from the recent financial reporting by Tesla where the EV automobile company has reported a net income of $600 million.
A CNBC report, citing experts, said that BTC has pushed the EV maker to achieve this significant milestone. Notably, Tesla is the 6th biggest holder of Bitcoin among public companies, according to Bitcoin Treasuries.
Elon Musk’s X Could Also Integrate Dogecoin
As Bitcoin pumped the net income of Tesla, it fuels speculation that it could now be integrated into X Money. However, it is also speculated that Dogecoin could be another crypto to be integrated into Elon Musk’s X Money. Reports about the potential integration of DOGE with X’s payment system have previously fueled a potential price rally for DOGE.
Meanwhile, it is also anticipated that many more altcoins will be listed alongside Bitcoin and Dogecoin after the payment system goes live later in 2025. If it happens, then that would be a huge boost to the crypto market and would signal a larger adoption of digital tokens.
Interestingly, the company launched a Bitcoin tipping feature in 2021 when Jack Dorsey was the CEO of Twitter, now X. It took longer to implement the idea on a large scale because of the complexities around the regulatory landscape in the US. X Payments LLC is registered with the Financial Crimes Enforcement Network and is registered in 41 states, according to its website. Hence, it should be easier to achieve the goal of integrating crypto tokens into the payment system.
Bitcoin Price Rally
The speculation of X Money integrating Bitcoin has sparked a bullish run for BTC. The flagship cryptocurrency is up by 2.19% in the last 24 hours and is exchanging hands at $104,900.07. The crypto has recorded a weekly gain of 2.26%. A recent Bitcoin price analysis highlights two crucial levels of $105.4K and $107.2K for the crypto to watch.
However, DOGE price is yet to reflect such a sentiment because the meme coin is down by 0.49% in the last 24 hours and 6.52% in the last 7 days. DOGE is being traded at $0.3307 with an uptick of 3.86% in its 24-hours trading volume, as per CoinMarketCap.
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