Elon Musk's X has acquired a licence in a US state to transmit currency for the microblogging platform. This suggests that the social networking platform formerly known as Twitter could soon support the processing of payments in cryptocurrencies and fiat currencies. This licence gives a company the right to facilitate the custody, transfer and exchange of digital currencies. Musk, who acquired X last year, has said he wants to turn it into an "everything app." The billionaire envisions X as a platform through which users can communicate, exchange and, in the future, make payments.
"If I'm so smart then why did I pay so much for Twitter?" said Elon Musk at a conference. In October 2022 the Tesla CEO closed the deal with Twitter for a whopping 44 billion. Although admitting that the deal was expensive, Musk took no time to claim that he bought Twitter for he thought that it was negatively affecting the civil society.
He declared in the VivaTech conference in June 2023,"I was concerned Twitter was having a negative affect on civilization and corrosive affect on civil society, and anything that undermines civilization, I think, isn't good,"
He went on to emphasize his reason and said "I felt Twitter kept moving in a negative direction and my hope and aspiration was for it to be a positive force for civilization."
Now Let's drop a bomb directly, Musk is way too smarter than most of us can anticipate. His reason and grip of words is definitely matchless. He knows far better how to exploit the public sentiments by adopting a humanist approach. His tactics for getting publicity for his brands or ventures has often been cited as the smartest moves. His move of breaking a bulletproof glass on a cybertruck or a Tesla car in the space show how much he hates spending on advertisement.
It's worth noting that a few words from the world's richest man can resurrect or destruct any market. His single tweet can generate or destroy millions in no time. Then why on Earth does he try to be manipulative. After all he is the greatest entrepreneur of our generation and he may be true when he talks about humanity, civilization or civil society, isn't he? Let's find out.
Musk has already had lot of success with most of his ventures and he is in possession of an exponential wealth. He is at the helm of the riches that very few few can imagine. But he definitely wanted something that can be more comprehensive than all the wealth ever existed. His ambition for taking over Twitter was a precedent of what is now constructing.
Twitter has rebranded to X and Musk is now openly showing his clever intentions. He wants to create something with everything for everyone.
The recent news about Twitter payments LLC (X) acquiring money transmitter licences from various states in the US envisions that X (Twitter) can now safely handle crypto and fiat payments. More details are awaited about how X's payment features will look like.
Musk is definitely on a mission in pursuance of a US based 'super-duper app' that can engage users in as many ways as possible. He wants to create an app that goes beyond chatting or sharing a few words, images or videos. Who knows X (formerly Twitter) may soon embodies e-commerce, or a bitcoin and crypto wallet, or a stock or Cryptocurrency trading platform, or a YouTube like library of videos, or a Mars for Netizens (Lol).
Ultimately, there's a better chance that Musk becomes to single-handedly (albeit with his X community) challenge the monopoly of certain powerhouses like YouTube, Amazon, Facebook, and so on.
