Accoridng to the latest reports, it really looks like Elon Musk is supporting the mass adoption of digital assets. He is doing this now via Twitter as you will see in the latest news below.
Twitter to accept crypto payments in the US
Accoridng to the latest reports, it looks like Twitter has started the regulatory process to add crypto payments in the US.
₿: Twitter has officially started the regulatory process to add payment features in the United States! @Elonmusk recently explained, “There’s a role for crypto in the future. It’s a no-brainer for Twitter to have payments in both fiat and crypto” pic.twitter.com/f71EZFa1LP
— Documenting ₿itcoin (@DocumentingBTC) January 30, 2023
According to the notes published by CoinDesk, “Twitter is designing a system to permit payments through the social-media platform, and although billionaire owner Elon Musk wants it “first and foremost” to be for fiat currencies, he wants the ability to add cryptocurrencies later, the Financial Times reported Monday.”
Dogecoin (DOGE) spiked to its 24-hour high after the news broke. Musk has long professed a love of the meme coin.
It’s more than obvious that Elon Musk wants Twitter payments system built with crypto in mind. Twitter’s upcoming payments tool will initially support only fiat currencies, but Elon Musk wants it built to support crypto in the future potentially.
Crypto adoption boom
The BTC mass adoption seems to be going amazingly these days. Digital assets manager CoinShares says large institutional investors are pouring money into Bitcoin (BTC) at rates not seen in the last six months.
In its latest Digital Asset Fund Flows Weekly Report, CoinShares revealed the fact that institutional investors are pouring money into crypto really significantly.
“Digital asset investment products saw US$117m inflows last week, the largest since July 2022, while total asset under management (AuM) have risen to US$28bn, up 43% from their November 2022 lows.” Check out the latest article that we recently shared in order to learn more details about this.