Twitter Will Integrate Crypto Payments If Takeover Bid Is Successful, Elon Musk Hints

Musk said that there's "a lot of" crypto scams on Twitter.

Elon Musk has been a strong supporter of cryptocurrencies for a while now. As he sets his eyes on a $44-billion takeover of Twitter, it only makes sense that he would look to introduce crypto payment support on the microblogging platform. On Thursday, Musk had his first all-hands meeting with Twitter employees, where he hinted that crypto payments may soon be introduced on Twitter in order to “maximise the usefulness of the service.” During the meeting, Musk talked about possible job cuts, free speech, and crypto scams on the platform.

As per media reports, Musk mentioned crypto a few times during the meeting. When Twitter Chief Marketing Officer Leslie Berland asked Musk, “Can you talk a little bit about Twitter and payments?”, he started by saying that money is “essentially digital” and a “form of information.”

Musk said, “I think it would make sense to integrate payments into Twitter so that it’s easy to send money back and forth, and fiat currency as well as crypto — essentially, whatever somebody would find useful.”

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The Tesla CEO added, “So my goal would be to maximize the usefulness of the service — the more useful it is, the better. And if one can use it to make convenient payments, that’s an increase in usefulness.”

Speaking on crypto scams on Twitter, Musk said “there’s quite a lot of” them on the platform.

“There’s definitely an ongoing challenge with Twitter with bot accounts and spam accounts. There’s quite a lot of crypto scams on Twitter,” Musk said. “It’s gotten better, but there’s still a fair bit of that,” he continued. “There are also people where they’re not necessarily bots, but they might be operating. You know, one person’s operating hundreds of accounts and trying to make them look like individuals, but they’re not.”

Musk’s Twitter deal is currently on hold, as the billionaire entrepreneur has also hinted that a lower price may not be ruled out as he sought more details from the social media giant on its fake accounts.