[NEWS] Elon Musk denies issuing his own cryptocurrency through X

On the 5th, American entrepreneur Elon Musk denied the possibility of issuing his own cryptocurrency on X (formerly Twitter), a social networking site he acquired last year.

This was mentioned in a post by DogeDesigner, a graphic designer for Dogecoin.

DogeDesigner mentioned an article about plans to issue X's own cryptocurrency, saying, "Mr. Musk and X will not launch a cryptocurrency," and called for people to be careful of such articles. At that time, Musk responded to the post, saying, "We will never issue one in the future (forever)."

Although he denied issuing his own cryptocurrency, there is a possibility that efforts regarding cryptocurrency will continue.

Musk has long been planning to make X an all-purpose app.

In fact, he said about Twitter, "It made sense when 140-character messages were sent back and forth like birds chirping, but things have changed dramatically since then, and users can post anything, including videos that last several hours." He argued that there is no reason to keep the name as it is at this point.

Also, in April of this year, eToro, which provides trading services for cryptocurrencies and stocks, announced a partnership with X. This made it possible to check the prices of some cryptocurrencies, such as Bitcoin (BTC), on X.

In addition, in January, it was revealed that X is developing a payment function, and in connection with this, it has been suggested that it may also support cryptocurrency payments in the future.

Musk is also known as a supporter of Dogecoin, and his words and actions have caused large price fluctuations. At one point, he changed the "blue bird," which was the symbol of the old Twitter, to "Kabosu-chan," a Shiba Inu, which is the symbol of Dogecoin.

Based on these actions, it is expected that the cryptocurrency-related efforts will continue.

Reference: Musk's posts on X
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