Twitter Preps for Bitcoin Payments: Elon Musk Open to Crypto Vision

• Twitter is reportedly preparing for payments and bitcoin could be included in the mix.
• Elon Musk has expressed interest in integrating crypto into the platform’s payments vision.
• Twitter applied for regulatory licenses across the U.S., indicating their intention to facilitate payments on its app.

Twitter Prepping For Payments

Twitter is reportedly prepping for payments, with bitcoin potentially being a part of its payment vision. According to a Financial Times report, Elon Musk is open to adding BTC and other cryptocurrencies to his social media platform’s payment system.

Fiat First, Crypto Later?

The stated goal of this „super app“ vision is prioritize fiat currency transactions first, but its future likely includes the alternative payment method of cryptocurrency. Twitter has already applied for regulatory licenses across the United States, signaling their intention to begin facilitating payments through their app in the near future.

Bitcoin Acceptance History

This would not be the first time that one of Elon Musks‘ businesses have accepted Bitcoin as payment; Tesla electric vehicles previously accepted bitcoin as payment before retracting due to concerns about renewable energy sources. Despite no firm plans yet, Musk has firmly reiterated since his takeover of Twitter that he wants it to become more multifunctional and serve as a “super app” – an idea which could benefit from cheaper, faster payments using something like the Bitcoin Lightning Network.

Tipping Tested via Lightning Network

Twitter recently tested tipping users through Jack Mallers‘ Strike application using Bitcoin’s Lightning Network – allowing users to add their own Bitcoin address directly receive tips sent by others on the network.

Conclusion

It appears that Twitter is taking steps towards integrating cryptocurrency into its platform – while there are still many regulatory hurdles ahead and no official plans in place yet, it remains possible that we may see some form of crypto transaction capability on the platform in the near future