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Breaking: Elon Musk Wants Crypto For Twitter Payments But There's A Catch Breaking: Elon Musk Wants Crypto For Twitter Payments But There's A Catch

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Breaking: Elon Musk Wants Crypto For Twitter Payments But There’s A Catch – Crypto News

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Elon Musk is moving forward with his master plan for Twitter payments. The company has begun the application process for state licenses in the United States in an effort to generate additional revenue streams outside advertising. The 51-year-old business tycoon has stated that, for now, he wishes to utilize fiat currency for payments on Twitter, but vouches for cryptocurrency functionality to be added in the near future.

Earlier, during a meeting with Twitter advertisers, Tesla CEO Elon Musk provided a comprehensive overview of Twitter’s strategy to enter the payments business while the discussion was being livestreamed on Twitter. The new owner of Twitter has hinted that, in the not-too-distant future, users will be able to transfer money to one another on the platform, withdraw their funds to verified bank accounts, and, possibly, in the not-too- In the distant future, a high-yield money market account will be offered to encourage them to transfer their cash to Twitter.

Twitter forecasts that revenue from this business will amount to $1.3 billion by the year 2028.

Altcoins such as Mask Network (MASK) and Dogecoin (DOGE) witnessed a significant price increase almost immediately following the announcement.

This is a developing story and is being updated frequently.

The post Breaking: Elon Musk Wants Crypto For Twitter Payments But There’s A Catch appeared first on CoinGape,

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