🚀 Elon Musk’s ‘Everything App’ X 📱 Launching In-App Payment Services in Mid-2024 🤔
Speaking to Cathie Wood of ARK Invest on Dec. 21 in an X space chat, Elon Musk shared his expectations of launching payment services by mid-2024 on his social media platform, X. Despite regulatory hurdles and the slow pace of bureaucratic processes, Musk remains optimistic about the approval of money transmitter license applications.
Looking forward to talking with @elonmusk today at 5 pm ET on X Spaces! Can't wait to hear his thoughts on the AI space, bitcoin, and so much more. Join us. https://t.co/LAdIzl7QAa
— Cathie Wood (@CathieDWood) December 21, 2023
Musk noted the absence of any major obstacles 🚫 that could derail the licensing process, though he admitted X was a tad late in submitting essential documents. 📊
Crypto enthusiasts 🌟 had been eagerly anticipating the integration of cryptocurrencies like Dogecoin (DOGE) and Bitcoin (BTC) into the X payments system.
However, Musk, also the CEO of Tesla, has not confirmed such plans. He also indicated a lack of focus on digital assets lately, mentioning, “I don’t spend a lot of time thinking about cryptocurrency. Hardly any at all.” 💭
Nevertheless, Tesla maintains a Bitcoin reserve worth about $148 million 💸 and allows Dogecoin as payment for merchandise in the Tesla Shop. 🛒 In addition, The Boring Company (TBC), another Musk venture, reportedly accepts Dogecoin for rides on its Las Vegas transit system. 🚇
Musk views money and digital assets as a “database for resource allocation.” He considers fiat currency adequate, provided there’s no manipulation of its supply by state actors.
In a lighter conversation about AI, Musk mentioned his Grok AI system, aiming to make it the “funniest” large language model. He cheekily suggested that users would enjoy the outcome if they asked the AI for a “vulgar roast.” 🎤
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