Elon Musk Denies Rumors of Twitter Launching Crypto Token
Tesla CEO Elon Musk has restated that Twitter or “X” will not be launching a crypto token. In response to a Twitter user’s warning about articles claiming otherwise, Musk simply replied, “And we never will.” The rumors of a token called “$X” or “Twitter token” have been circulating, with some articles even claiming significant gains in just 24 hours.
Twitter Rebrand and Musk’s Affinity for Dogecoin
These rumors come during a time when Musk is leading a significant rebranding effort for Twitter, aiming to make it the new “everything app.” Given Musk’s love for Dogecoin, users have speculated about the possibility of a Twitter or X-related cryptocurrency. Musk, also known as the “Dogefather,” acquired Twitter for $44 billion and temporarily changed its logo to the Shiba Inu, the iconic symbol of Dogecoin. This move led to a lawsuit against Musk and allowed DOGE to surge by 20%.
X-Token Surges After Twitter Rebrand
Interestingly, while there is no direct affiliation with Twitter, X, or Elon Musk, an altcoin called the X token experienced a 1000% surge following Musk’s announcement of Twitter’s rebranding to X.com. The X token is not related to X.com and is part of a project initiated by X, a decentralized NFT marketplace operating across various blockchain networks.
Hot Take
Elon Musk’s denial of launching a crypto token reinforces his focus on Twitter’s rebranding. While the rumors have sparked interest in the X token, it’s crucial to differentiate between the token and Musk’s Twitter-related endeavors. As the crypto community continues to speculate, it remains to be seen if any cryptocurrency will emerge from Musk’s influence over Twitter.
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