Elon Musk

X Money

Social media platform X is rolling out a new messaging feature, XChats, which owner Elon Musk says will have “Bitcoin-style encryption.”XChat is seemingly a more feature-rich version of the platform’s direct messaging function, which will feature audio and video calling, “encryption, vanishing messages, and the ability to send any kind of file,” Musk <a href="https://x.com/elonmusk/status/1929238157872312773" rel="noopener noreferrer nofollow">said</a> in a June 1 X post.The new messaging service is built on the Rust programming language, which Musk said had “(Bitcoin style) encryption, whole new architecture.”On May 29, X <a href="https://x.com/XEng/status/1927826425173696988" rel="noopener noreferrer nofollow">said</a> that it had to pause its encrypted messaging feature while it worked on improvements, which may have been related to the release of XChat.<figure><img src="https://s3.cointelegraph.com/uploads/2025-06/01972ee4-d7bc-7901-b71d-97f4f5ffcc15" title="" alt="Elon Musk says X’s DM feature XChat to have ‘Bitcoin-style encryption’"><figcaption>Source: <a href="https://x.com/elonmusk/status/1929238157872312773" rel="noopener noreferrer nofollow">Elon Musk</a></figcaption></figure>Musk’s comment on XChat’s encryption spurred a flurry of reactions from Bitcoiners such as JAN3 CEO Samson Mow, who <a href="https://x.com/Excellion/status/1929262490023567654" rel="noopener noreferrer nofollow">said</a> that “Bitcoin isn’t encrypted,” while crypto influencer “Pledditor” <a href="https://x.com/Pledditor/status/1929253304434921696" rel="noopener noreferrer nofollow">added</a> that Bitcoin “uses elliptic curve cryptography.”Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>) core developer Luke Dashjr also chimed in, <a href="https://x.com/LukeDashjr/status/1929258123438547177" rel="noopener noreferrer nofollow">stating</a> “Bitcoin doesn’t even use encryption” and that using the Rust language was “a bad idea for security reasons.”“Maybe Musk means like BIP-151 peer-to-peer communication encryption,” BitMEX Research suggested, mentioning the <a href="https://cointelegraph.com/explained/what-are-bitcoin-improvement-proposals-bips-and-how-do-they-work" rel="noopener noreferrer nofollow">Bitcoin Improvement Proposal</a> designed to encrypt Bitcoin node data.Bitcoin’s elliptic curve cryptography works like a mathematical lock system where you have a secret private key and a public key that’s mathematically derived from it on a calculated curve where the math only works in one direction but is nearly impossible to reverse.This lets holders prove they own the BTC and authorize transactions without revealing the private key, making the system secure without needing a central authority. Bitcoin also uses SHA-256 hashing for transaction validation and creating block and transaction IDs.&nbsp;Related: <a href="https://cointelegraph.com/news/elon-musk-leaves-doge-admit-tougher-than-expected" rel="noopener noreferrer nofollow">Elon Musk leaves DOGE as job was ‘uphill battle’</a>TechCrunch <a href="https://techcrunch.com/2025/05/30/xs-new-dm-feature-xchat-is-rolling-out-in-beta/" rel="noopener noreferrer nofollow">reported</a> that XChat is currently rolling out to paid subscribers and appears to be protected by a four-digit passcode.<h2 id="x-money-in-testing">X Money in testing</h2>On May 25, <a href="https://cointelegraph.com/news/elon-musk-plotting-blockchains-doge" rel="noopener noreferrer nofollow">Musk</a> confirmed that the company was also working on <a href="https://cointelegraph.com/news/elon-musk-confirms-x-money-beta-testing-launch-2025" rel="noopener noreferrer nofollow">a payments feature</a> called X Money, which will launch in beta later this year.He said that testing will be a “very limited access beta at first,” adding that “when people’s savings are involved, extreme care must be taken.”Musk purchased X, then called Twitter, in October 2022 and has long promised to turn the platform into an “everything app” similar to WeChat — with features and services beyond what is typically available on social media platforms.The new offerings suggest that X is now ready to try to rival encrypted messaging platforms such as <a href="https://cointelegraph.com/news/telegram-raises-17-billion-convertible-bonds" rel="noopener noreferrer nofollow">Telegram</a> and Signal, while also looking to compete with popular fintech apps Venmo and Cash App.Magazine: <a href="https://cointelegraph.com/magazine/bitcoin-price-breakout-signals-gamestop-buying-bitcoin-hyperliquid-whale-hodlers-digest/" rel="noopener noreferrer nofollow">Bitcoin $200K ‘obvious’ breakout, GameStop’s first BTC buy: Hodler’s Digest</a>

Elon Musk says X’s DM feature XChat to have ‘Bitcoin-style encryption’

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