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Elon Musk’s influence in the crypto market is once again in the spotlight after the SpaceX Founder suggested that X (formerly Twitter) could soon integrate crypto, and this came hot on the tail of Elon Musk questioning why Vitalik Buterin has reduced activity on the platform.
On Monday, Elon Musk shared an animation created by user ‘DogeDesigner’ depicting a conceptual merger between X and his previous payments platform of the same name.
Along with the visual, Musk made a cryptic comment, stating that “the circle will be complete,” leading to speculations about probable financial integrations on the platform.
Adding fuel to the fire, Elon acknowledged Vitalik Buterin’s reduced activity on X, he responded to user ‘Autism Capital’s’ mention of the Ethereum co-founder spending more time on Farcaster, a decentralized social media app, asking “Why did he leave?”
This sparked a flurry of responses from across the crypto community, everything from “because you haven’t enabled crypto payments” to “Dear Elon, anytime a crypto influencer tweets on this app a fake impersonator with the same name and pfp replies with a link to a fake site that drains your wallet.”
Even with the vitriol, Elon’s inquiry renewed curiosity amongst crypto investors, who wonder whether he will embrace Web3 and Ethereum more aggressively.
Vitalik Buterin’s Reason For Leaving X
Vitalik has stated he prefers Farcaster over X due to its superior features like unique channel functionalities, which he believes offer a better user experience and long-term potential, compared to X.
Despite having 5.2 million followers on X, his smaller following on Farcaster is more aligned with his vision, with many citing spam and unrelated crypto promotions on X as contributing to his decision to shift his focus off the platform.
Nobody likes dozens of fake Solana memes, or, Base meme tokens spamming your eyes – however, one user found Vitalik’s actual reasoning for leaving:
Amidst this shift, the a state authority is still investigating Ethereum, which could redefine its classification and regulatory standing, this could have major implications for Ethereum’s future in the cryptocurrency market.
Elon Musk Crypto Influence Could Trigger Another Dogecoin Pump?
In January, X launched a payments network supported by US money-transmitting licenses. The move aligns with Elon Musk’s vision of integrating cryptocurrency transactions throughout his businesses, such as SpaceX and Tesla, which already accept Dogecoin (DOGE).
Tesla only accepts Dogecoin. Let that sink in.
Musk believes Doge has potential as an online currency due to its memeticness. He humorously suggested it could be the official currency of Mars if SpaceX establishes a colony there. This only leaves us with the question: Elon where is my rocketship?
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
