After months of dramatic back-and-forth, Elon Musk has gained control of Twitter Inc., sparking sentiments ranging from hope to fear among users who are waiting to see how the billionaire will stamp his mark on the social-media network. Crypto payments on Twitter is no exception.
Cryptocurrency payments through its services.
With Elon Musk at the helm, the debut of cryptocurrencies on the social media platform is more likely now than never.
In this context, identifying which cryptocurrencies have a probability of debuting on Twitter payments becomes even more crucial. As per recent rumours, Musk intends to charge Twitter users a monthly fee.
Twitter Crypto Payments: Almost a Foregone Conclusion?
This sparked speculation that cryptocurrency might soon be used to pay for Twitter subscription fees. While the majority of Twitter users are said to be unwilling to pay for the subscription-based service, the move might be a game changer. Experts belive that the subscription-based business model would not only increase Twitter's revenue but would also alleviate the company's content moderation problem.
Prior to Twitter's takeover, Musk was outspoken about the need to rid the platform of trolls, spam accounts, and bots. Indeed, Musk recently stated that he wants Twitter to be a more dependable platform.
Top Cryptocurrencies Getting Twitter Integration
Meanwhile, several cryptocurrencies may gain from the eventual integration of Twitter crypto payments. Crypto influencer Ran Neuner feels the move will assist Binance's stablecoin BUSD as well. With Elon Musk's backing, Dogecoin (DOGE) could be the first cryptocurrency to be accepted for payment. Bitcoin (BTC) would have a chance alongside DOGE due to its magnitude and influence. Tesla already accepts DOGE for certain purchases of Tesla products.
Neuner believes that the social media platform will soon enable cryptocurrency payments between individual members. Bitcoin, Dogecoin (DOGE), and BUSD may be among the first options considered, he noted.
Aside from these cryptocurrencies, Twitter may consider adding Ethereum (ETH) and Shiba Inu (SHIB) due to the projects' popularity.
In a recent move, Musk replaced the old Twitter board of nine members with himself as the sole director of the company. This follows the dismissal of three key executives, including CEO Parag Aggarwal, following Musk's official takeover last week.
Read also: Binance CEO May Contact Elon Musk for Bringing Twitter into Web3
