Elon Musk’s X Money Plans Bitcoin Move as Tesla Gains $600M

Speculation is growing that X Money, the payments arm of X (formerly Twitter), will add Bitcoin (BTC) after the cryptocurrency contributed $600m to Tesla’s Q4 profits.

With X Money’s recent partnership with Visa and Musk’s history of crypto support, adding Bitcoin and Dogecoin (DOGE) is looking more and more likely.

X Money Partners with Visa, Sparks Crypto Speculation

X CEO Linda Yaccarino announced a big partnership between X Money and Visa which will allow users to transfer funds between traditional banks and digital wallets. This is a step towards making X an “everything app” and Yaccarino teased more to come.

This has led to speculation that X Money will add Bitcoin, especially with Elon Musk’s ties to the crypto space. Tesla, where Musk is CEO, reported $600m in Q4 profits, partly due to its Bitcoin holdings. Tesla is the 6th largest public company holder of Bitcoin according to Bitcoin Treasuries, making the case for BTC integration even stronger.

Could Dogecoin Be Next?

While Bitcoin is the main focus of speculation, Dogecoin (DOGE) is also being considered as a potential candidate for X Money integration. Musk has been a big supporter of DOGE, calling it the “people’s crypto”. Previous rumors of DOGE integration have caused price rallies for the meme coin and if it gets added to X Money it could boost its adoption even more.

X Money is expected to list multiple cryptocurrencies including Bitcoin and Dogecoin when it launches in 2025. This would be a big step towards mainstream crypto adoption and could be massive for the market.

Bitcoin Price Rallies Amid Integration Rumors

The speculation around Bitcoin being added to X Money has already moved the price. Bitcoin is up 2.19% in the last 24 hours trading at 104,900.07, with a weekly gain of 2.26% 104,900.07, _with a weekly gain of 2.26% 105.4K and 107.2K which will determine the short term direction of BTC.

Dogecoin on the other hand has not reflected the same bullishness. DOGE is down 0.49% in the last 24 hours and 6.52% for the week trading at $0.3307. But its 24 hour volume is up 3.86% which means interest is growing with the integration rumors.

Key Takeaways:

• X Money Partnership: Visa collaboration paves the way for crypto integration.
• Bitcoin Boost: BTC helps Tesla achieve $600M in Q4 net income.
• Dogecoin Potential: DOGE could join Bitcoin in X Money’s payment system.
• Market Impact: Bitcoin price rises 2.19% amid integration speculation.

X Money getting closer to launching its payment system and Bitcoin and Dogecoin integration could change everything. Elon Musk and Tesla’s fortunes are tied to Bitcoin.

ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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