Elon Musk is the CEO of Tesla Inc. and the founder of SpaceX. He is supposedly working on a social media platform with crypto wallet features, such as the ability to add and remove money.
Jane Manchun Wong, a well-known tech blogger, told the world about these facts. She did say, though, that not much is known about the situation.
Musk said before that buying Twitter would help speed up his all-in-one app, which he calls X-App. “Buying Twitter is a step toward making X, the app for everything,” Musk said.
Musk’s everything app will definitely work with the best digital assets, like Bitcoin, Ripple, and Dogecoin (DOGE). Musk could, however, make a new utility token for his X-app.
The tech billionaire wants to make a platform that does everything, like the ones that are popular in Asia, like WeChat. So, the billionaire hopes that his popular ideas will help open up the western market.
Musk has said in the past that there is no WeChat movement outside of China. “And I think there’s a real chance to make that happen. In China, you pretty much live on WeChat because it is so useful and useful to your daily life. And I think if we could do that with Twitter, or even come close, it would be a huge success,” Musk said.
Musk builds X-App with the help of how well the crypto market works.
Musk has been a big fan of sound money to open up global markets for many years. Also, the richest person in the world made his money by selling PayPal, a global payment platform that now works with Bitcoin and other digital assets. Musk has been directly quoted as supporting Dogecoin, which has made meme coin investors around the world pay attention.
In the Web3 business, Musk will compete with companies like Meta, which used to be Facebook. As more people use permissionless protocols to do real-world trades, the Web3 industry is expected to make a big difference in the global GDP.
The billionaire has until Friday at 5 p.m. Eastern Time (ET) to close the $44 billion deal to buy Twitter. If he doesn’t, he will have to go to court, which had been put off for technical reasons. Notably, Musk has avoided buying Twitter in the past because there were so many reports of unwanted bots.
If the deal goes through, Twitter shareholders will get a lot out of it. Also, TWTR shares are being bought and sold for about $52.
MarketWatch says that Twitter has a market capitalization of about $38.18 billion and that there are 765.25 million shares in circulation. The struggling social media giant would make more than $6 billion from a $44 billion sale. It’s important to note that TWTR shares have gone up about 30% in the last three months after the acquisition rumors.
