Elon Musk

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 <p>Renowned entrepreneur <a rel="noopener noreferrer nofollow" title="Elon Musk" href="https://thebittimes.com/tag/elon-musk.html">Elon Musk</a> recently disclosed plans for the introduction of in-app payment services on his comprehensive ‘everything app,’ referred to as ‘X,’ with an expected launch around mid-2024. Musk shared this insight during a conversation with Cathie Wood of ARK Invest at a recent X space event on Dec. 21. Despite the heightened anticipation surrounding X, Musk hinted that the incorporation of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> assets into the payment services seems improbable.</p>
 <h4 class="wp-block-heading" id="h-projected-timeline-for-payment-services-launch">Projected Timeline for Payment Services Launch</h4>
 <p>Elon Musk outlined his vision for the in-app payment services on X, anticipating full functionality by the “middle of next year.” However, the realization of this timeline is contingent upon the approval of various money transmitter license applications. Musk acknowledged an initial aspiration to expedite the launch of payment services but cited delays attributed to bureaucratic processes.</p>
 <h4 class="wp-block-heading" id="h-potential-challenges-and-license-approval">Potential Challenges and License Approval</h4>
 <p>During the discussion, Musk expressed confidence in the approval of X’s money transmitter license applications, asserting a lack of awareness of potential “showstoppers” that might lead to rejection. He conceded that X had encountered delays in submitting all the requisite documents.</p>
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 <h4 class="wp-block-heading" id="h-crypto-enthusiasts-disappointment">Crypto Enthusiasts’ Disappointment</h4>
 <p>Many within the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency community held hopes that Musk would integrate one of his favored <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies, such as Dogecoin (DOGE), into the X payments system. However, Musk neither confirmed such intentions nor fueled enthusiasm for <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies, stating that he devotes “hardly any” time to thinking about digital assets.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="681" src="https://cdn.thebittimes.com/images/2023/12/22/fb0e17da96431df61e8c4963bd94ac59.webp" alt class="wp-image-122605" srcset="https://cdn.thebittimes.com/images/2023/12/22/fb0e17da96431df61e8c4963bd94ac59.webp 1024w, https://cdn.thebittimes.com/images/2023/12/22/fb0e17da96431df61e8c4963bd94ac59.webp 300w, https://cdn.thebittimes.com/images/2023/12/22/fb0e17da96431df61e8c4963bd94ac59.webp 768w, https://cdn.thebittimes.com/images/2023/12/22/fb0e17da96431df61e8c4963bd94ac59.webp 1536w, https://cdn.thebittimes.com/images/2023/12/22/fb0e17da96431df61e8c4963bd94ac59.webp 380w, https://cdn.thebittimes.com/images/2023/12/22/fb0e17da96431df61e8c4963bd94ac59.webp 550w, https://cdn.thebittimes.com/images/2023/12/22/fb0e17da96431df61e8c4963bd94ac59.webp 800w, https://cdn.thebittimes.com/images/2023/12/22/fb0e17da96431df61e8c4963bd94ac59.webp 1160w, https://cdn.thebittimes.com/images/2023/12/22/fb0e17da96431df61e8c4963bd94ac59.webp 1920w" sizes="(max-width: 1024px) 100vw, 1024px">
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 <p><strong>Also Read: Dogecoin: DOGE Payments Could Come to X: MyDoge Wallet CTO</strong></p>
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 <h4 class="wp-block-heading" id="h-tesla-s-position-on-cryptocurrency">Tesla’s Position on Cryptocurrency</h4>
 <p>Despite Elon Musk’s apparent shift in focus, it is noteworthy that Tesla still retains approximately $148 million in Bitcoin on its balance sheet. Moreover, Tesla customers can utilize Dogecoin for purchases from the Tesla Shop. Reports from 2022 indicated that Musk’s tunnel construction firm, The Boring Company (TBC), started accepting Dogecoin for rides on its Las Vegas transit system.</p>
 <h4 class="wp-block-heading" id="h-musk-s-views-on-cryptocurrency">Musk’s Views on Cryptocurrency</h4>
 <p>Responding to a question from his AI project, Grok, Musk admitted to dedicating minimal thought to <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency. However, he provided insights into his perspective on money and digital assets, considering them a “database for resource allocation.” Musk expressed acceptance of fiat currency, provided that state actors refrain from manipulating its supply and devaluing its worth.</p>
 <h4 class="wp-block-heading" id="h-ai-development-objectives">AI Development Objectives</h4>
 <p>In discussions about the Grok AI system, Musk emphasized the primary goal of making it the “funniest” language model. Users have the option to request a “vulgar roast” from the AI, and Musk envisions the outcomes to be enjoyable.</p>
 <p>Elon Musk’s revelation regarding the imminent launch of in-app payment services on X introduces fresh possibilities to the tech landscape. While Musk’s interest in cryptocurrencies seems to have diminished, the developments in X’s payment services hold promise for innovative financial solutions. The ambiguous stance on crypto integration leaves the community eager to witness how X will shape the future of transactions within the realm of social media.</p>
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 <p><strong>Also Read: EU Commission Opens Investigation Into <a rel="noopener noreferrer nofollow" title="Elon Musk" href="https://thebittimes.com/tag/elon-musk.html">Elon Musk</a>’s X</strong></p>
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<div class="cs-entry__tags">
 <ul>
  <li>crypto</li>
  <li>cryptocurrency</li>
  <li>Elon Musk</li>
  <li>Twitter</li>
 </ul>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/musk-targets-mid-2024-debut-for-x-s-in-app-payments-crypto-on-hold-tbt74480.html">https://thebittimes.com/musk-targets-mid-2024-debut-for-x-s-in-app-payments-crypto-on-hold-tbt74480.html</a></p>

Musk Targets Mid-2024 Debut for X’s In-App Payments, Crypto on Hold

TheBitTimes

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