After the rumors surfaced, Elon Musk swiftly responded on the social media platform Twitter. He affirmed that Twitter will never release its own token.
Following the statement from the “multi-talented” billionaire, the community started speculating about which cryptocurrency he might use for payments on the platform. Some opinions suggested Dogecoin or Shiba Inu token could be his choice.
However, it’s worth noting that the price of Dogecoin (DOGE) – the favorite cryptocurrency of Elon Musk – didn’t experience significant fluctuations after the announcement that Twitter won’t issue its own token.
Elon Musk has demonstrated support for cryptocurrencies by integrating Bitcoin/Ethereum wallets on Twitter, enabling NFT profile picture uploads, and even creating a wallet for Twitter Coin after acquiring the platform.
Furthermore, the billionaire frequently uses Twitter to discuss the cryptocurrency market and post seemingly innocent Tweets that have significant impacts on various tokens like Dogecoin, memecoin BOB, and the NFT collection Milady.
Elon Musk truly serves as a source of inspiration and significant influence within the cryptocurrency community. His statements and actions can create large waves and alter the value of tokens in the market. His active support and utilization of cryptocurrencies mark a significant milestone in the widespread adoption and acceptance of digital currencies globally.