Bitcoin – similar to other major cryptocurrencies Ethereum, XRP
XRP
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Bitcoin price is up about 350% since crashing to a recent low of $15,000 per Bitcoin, with Ethereum, XRP, Dogecoin and the broader crypto market rising as markets brace for another earthquake. has returned to $2.5 trillion.
Now, after Tesla billionaire Elon Musk made a dramatic return to the crypto front last month, executives at Musk's social media company The 'end goal' of platform payments has been revealed, with the potential to wreak havoc.
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Tesla billionaire Elon Musk made a dramatic return to the crypto front last month, teasing it. … [+]
“The ultimate goal is that if you have an incentive to take money out of our system, we have failed. You should be able to do whatever you want on our platform, so your money You should never have to take it out,” said Mr.Christopher Stanley, Payments Chief Information Security Officer Posted in response to speculation The company's money transfer license facilitates USD and cryptocurrency payments on its platform.
“Think Venmo first,” Stanley added. “Then, as things evolve, you'll be able to capture interest, purchase products, and eventually use it for in-store purchases (think Apple Pay).”
X, the microblogging site formerly known as Twitter that Musk acquired in 2022 and is trying to grow into a “everything app” similar to China-based Wechat, is currently operating in 25 U.S. states. Obtained a remittance license.
Last month, Musk hinted at the possibility of buying a Tesla car with Dogecoin, his favorite meme-based Bitcoin rival, declaring he would “put Dogecoin on the moon.”
Since Musk bought Twitter and rebranded it as was widespread.
PayPal
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Dogecoin price has crashed from its 2021 peak, but is still far above previous levels … [+]
PayPal has been leaning into Bitcoin and cryptocurrencies in recent years, rolling out support for Bitcoin, Ethereum, Litecoin, and Bitcoin Cash in late 2020 before launching its own dollar-pegged stablecoin cryptocurrency. Ta. PayPal's initial support for Bitcoin and cryptocurrencies helped start 2021. A bull run in Bitcoin prices has sent Bitcoin soaring to nearly $70,000.
A leaked October “all-hands-on” virtual meeting of Company X revealed Mr. Musk's plans to expand Company X's financial services division, and prominent voices in the Bitcoin and crypto industry said the plan was He argued that it has the potential to foster a “critical mass” of virtual currency adoption.
“If there's money involved in it. It's going to be on our platform. Money, securities, whatever,” Musk said at the time.
Musk has previously said he wants X to be an “updated version” of PayPal, but has teased the integration of cryptocurrencies with other major companies including Bitcoin and meme-based Dogecoin over the past few years. It has helped the price of cryptocurrencies soar. Approved.
