Elon Musk has stated that it would be a “no-brainer” to introduce cryptocurrency to Twitter, amid rumors of altcoins circulating on social media.
According to Elon Musk, Twitter’s new CEO, the addition of cryptocurrency payments would be a natural fit.
Musk speaks about his vision for the future of the social media powerhouse in a new Twitter Spaces hosted by Mario Nawfal, including the ability to transact in both digital and traditional currencies.
During the talk, Elon stated,
“WeChat has a lot of functionality that Twitter should have. It’s kind of a no brainer for Twitter to have payments, both fiat currency and crypto, and to make that easy and simple for people to use.”
Musk’s remarks come as rumors circulate that Twitter is developing its own cryptocurrency.
A researcher named Jane Manchun Wong claimed to have discovered an image of a “Twitter Coin” buried within Twitter’s web app. Wong’s Twitter account has been deactivated, and all tweets describing the potential crypto integration have been removed.
Musk believes that crypto assets will eventually find their footing as a check on central banks and global monetary policies.
Musk sees little use for government-controlled Central Bank Digital Currencies (CBDCs), claiming that much of the monetary system is already digital.