The richest man in the world, Elon Musk, again discussed his plans to transform X (formerly Twitter) into a full-fledged financial platform, setting a timeline until the end of 2024 to achieve this goal. This has led many in the crypto community, specifically the DOGE community, to speculate about what this move could mean for the leading meme coin, Dogecoin.
Will Dogecoin be implemented into X’s financial structure?
So far, Musk has not said whether there is any plan to incorporate cryptocurrencies into the X payments service and, mainly, Dogecoin. However, with the affection of the owner of the
Furthermore, Musk’s plans to make X a financial center coincide with the plans he discussed with his brother regarding Dogecoin, as revealed in his autobiography. Musk’s brother mentioned the possibility of creating a blockchain-based social media platform that would integrate a payment system that would allow people to make payments using DOGE.
Musk seemed to embrace the idea when he went back to his brother with the idea of creating “a social blockchain system that does payments and short messaging like Twitter.” The decentralized nature of a token like DOGE could also be attractive to Musk considering he has always been a supporter of free speech, and this could also translate into the creation of a free market with the help of such crypto-tokens.
A central financial hub without cryptocurrencies is incomplete
Musk also seems determined to make Platform
Based on this statement, the integration of a token like DOGE appears to be a matter of when rather than if, considering cryptocurrencies are widely considered to be the future of money. However, it also remains to be seen whether the meme coin will be the only one integrated into the platform if the cryptocurrency is eventually adopted on the platform.
Meanwhile, the possible adoption of DOGE as a flagship crypto token on platform X is reinforced by the fact that Musk once mentioned that the platform never plans to create its token. As such, it doesn’t seem far-fetched that the meme coin would be Musk’s first choice once cryptocurrency talks on X begin to materialize.