Elon Musk’s Twitter Overhaul Could Be Huge for DOGE and Crypto Generally

“Elon clearly has an affinity for DOGE, almost as part of a running joke, but I wouldn’t be surprised if he actually went through with enabling payments via DOGE.”

Elon Musk’s brazen attempt to refashion Twitter into a new, broader service called X will apparently turn the iconic social-media app into a platform for making payments.

This dream, according to experts, probably has implications for cryptocurrencies, most specifically one of the billionaire’s favorite playthings: dogecoin (DOGE).

Musk has long talked about creating a so-called everything app that incorporates not only social media and messaging but also the ability to buy things and send money. Crypto could easily factor into that, given Musk’s long history of dabbling in digital assets.

His carmaker, Tesla, holds bitcoin. He’s frequently talked about DOGE. “Dogecoin might be my fav cryptocurrency. It’s pretty cool,” he tweeted in 2019. Earlier this year, Twitter’s logo was for several days swapped out for dogecoin’s dog symbol, driving a huge (albeit temporary) DOGE rally. The token jumped this week on Monday after Twitter’s X rebranding.

“Elon clearly has an affinity for DOGE, almost as part of a running joke, but I wouldn’t be surprised if he actually went through with enabling payments via DOGE,” said Brian D. Evans, CEO and founder of BDE Ventures, a Web3 venture studio and advisory firm.

In January, the Financial Times reported that Musk had asked for payment infrastructure to be built at the company, initially for fiat currencies but with the ability to add crypto later.