Bitcoin has surged back to toward the psychological $100,000 per bitcoin milestone after wild swings following a series of earth-shattering leaks.
The bitcoin price has rocketed higher since the election of Republican Donald Trump, whose administration is predicted to trigger a bitcoin price “tipping point.”
Now, as Tesla billionaire Elon Musk issues a “super fast” U.S. bankruptcy warning, the X owner has quietly confirmed a bitcoin and crypto market game-changer.
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Tesla billionaire Elon Musk has been pointed to lead the Doge department of government efficiency by … [+]
Musk sparked a fresh round of speculation over payments on the social media company he bought and rebranded from Twitter when he shared a screenshot of the app that included a $ button.
“My speculation is that “$” button is used for sending money to someone as a part of X Payments,” app researcher Nima Owji posted to X—to which Musk replied: “True.”
The confirmation pushed up the price of the meme-based dogecoin which has long traded on expectations that Musk could expand support for the cryptocurrency to X.
X, which Musk plans on developing into an “everything app” similar to the China-based Wechat, has been quietly acquiring money-transmitting licenses across the U.S. over the last couple of years.
Since Musk bought Twitter and rebranded it X, there has been widespread speculation that he could add support for bitcoin, dogecoin and other cryptocurrencies such as ethereum and XRP in a similar way PayPal
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The dogecoin price has rocketed alongside the bitcoin price as traders bet Elon Musk will add … [+]
The dogecoin price has surged toward its 2021 peak in recent weeks as the Musk-backed U.S. department of government efficiency (Doge) has caused interest in the cryptocurrency that shares its name to skyrocket.
Musk’s campaign against excessive U.S. spending resulted in the creation of the Doge, which Musk has said he believes could strip $2 trillion from U.S. spending.
The Doge department is a nod to the shiba inu doge meme that’s also linked to the dogecoin cryptocurrency, named by Elon Musk as his “favorite” cryptocurrency and accepted as payment by his Tesla car company.
Doge’s association with the dogecoin bitcoin rival has caused the dogecoin price to more than double over the last month, with billionaire Mark Cuban joking Musk could put dogecoin in the U.S. Treasury.
