Dogecoin Now A Distant Dream As Elon Musk’s Plan To Add Venmo-Like Payments To X Excludes DOGE
Dogecoin enthusiasts have long hoped that Elon Musk, a superfan of the meme-based cryptocurrency, would incorporate it into his vision for the X social media platform, aiming to create an "everything app." However, it seems that X users won't be able to send or receive crypto assets anytime soon.
No Crypto Plans For Now
In January, Elon Musk's microblogging site X (formerly known as Twitter) announced plans for peer-to-peer payments by the end of the year. There was speculation that cryptocurrencies, including DOGE, could be part of this service as Musk had previously hinted at such possibilities.
Musk even teased the idea of DOGE payments on X, suggesting Dogecoin as a potential payment method for Twitter Blue, the site's subscription service with premium features. However, recent regulatory documents show that while X is moving forward with X Payments, a new subsidiary, cryptocurrencies are not included in the plans.
Reduced Hopes Of DOGE Hitting $1
Despite Musk's previous enthusiasm for cryptocurrencies, including Tesla and SpaceX holding 19,794 BTC and accepting Dogecoin for merchandise payments, he has dampened hopes for crypto integration on X. In December 2023, Musk mentioned that he spends "hardly any time" thinking about cryptocurrency.
Since then, the Tesla/SpaceX CEO has not confirmed whether crypto would be used for X payments. The revelation that the anticipated X payments service won't include crypto for now could affect the price of DOGE, which often reacts to payment-related developments at any companies owned by Musk.
Current DOGE Price
At the time of writing, DOGE traded at $0.123, reflecting a 1.11% increase in the last 24 hours. While crypto enthusiasts continue to hold out hope that Dogecoin and other crypto assets may eventually be integrated into the payment system, the latest developments indicate it won't happen anytime soon.
