We just received confirmation that at some point in 2025, Elon Musk will launch X Money, a payment system designed to turn X (formerly known as Twitter) into an 'everything app'.
That kind of app combines social media, payments, and possibly cryptocurrency into a chaotic and perhaps world-changing experiment. If anyone can pull it off, it’s Elon—love him or hate him. However, the question now is: will cryptocurrency finally get a seat at the negotiating table?
Linda Yaccarino, CEO of X, announced this information on New Year’s Eve 2024. She also unveiled additional features like X TV and Grok, Elon’s AI offspring, to complete this all-in-one app fantasy.
A billion users and a dollar sign
So X reached a billion users in December. Elon himself confirmed this, although only about 40% of them are actually active, mostly during major events. However, a billion is no joke. That’s a huge base for a payment system, especially one that Elon is positioning as a potential competitor to WeChat.
If you didn’t know, WeChat dominates China by allowing users to do everything from messaging to shopping to transferring money—all without leaving the app. Elon has had his eye on that model for years.
The first big clue that X Money is being deployed appeared in November when a mysterious dollar sign icon showed up on Joe Rogan’s profile.
But don't forget about licensing. X Payments LLC has secured money transfer licenses in 33 U.S. states, an important step for legal operation. But New York (the financial capital of the U.S.) remains an issue. Without a license there, X Money will not be able to operate in one of the largest financial markets in the world.
Cryptocurrency card
Now, onto the most exciting part: cryptocurrency. Will Elon allow X Money to handle cryptocurrency? This is a million-dollar question, and all signs point to one definite answer: 'maybe'. Elon has always had a special affection for Bitcoin and Dogecoin, so if he integrates cryptocurrency, it’s likely to be one of those.
There are also rumors about stablecoins like USDC (USD Coin). Coinbase CEO Brian Armstrong believes USDC could fit perfectly with X Money. Thanks to their stability, they are ideal for daily transactions.
Meanwhile, in 2021, Elon stopped accepting Bitcoin for Tesla, blaming the environmental impact of mining operations. He stated that at least 50% of the energy used by Bitcoin needs to come from renewable sources for him to allow payments to resume.
Yes, as we reported earlier, miners have now reached 56.7%. Areas like Quebec, Iceland, and Texas have turned green, using hydro, geothermal, and solar energy to clean up Bitcoin’s image. This progress could be the impetus for Elon to integrate Bitcoin into X Money.
Talk about timing. President Donald Trump will reclaim the Oval Office in about two weeks, and his administration has many allies who support cryptocurrency. Trump himself is fond of cryptocurrency and has gotten quite close to Elon—they even spent New Year’s Eve together. As of the time the press reported, they were still together at Mar-a-Lago.
But this is not just about Elon’s love for innovation or his ego (although let’s not pretend that isn’t part of it). X Money could change the world. Peer-to-peer payments are likely to be a core feature, similar to Venmo or PayPal.
What’s the difference? X Money has the potential to bring cryptocurrency into daily transactions, something no major social platform has successfully done.
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