Renowned crypto expert CryptosRUs has shared insights suggesting that Tesla and Twitter’s CEO Elon Musk is likely to unveil significant cryptocurrency-related projects in 2024.
During a live session on October 27th, CryptosRUs hypothesized that Musk has plans to convert Twitter into a “financial application”, potentially outperforming conventional banking systems while incorporating features for cryptocurrency transactions. Much of this speculation draws from a recent interview Musk gave, which was published by The Verge.
Elon has just participated in an interview discussing his plans to transform X into a financial app by 2024.
He spoke as if this transformation would revolutionize the entire landscape, encompassing everything from traditional fiat money to securities and even cryptocurrencies. In essence, his ambition is to establish X as the definitive platform for all financial transactions.
The analyst posits that Musk is aiming to achieve the original aspirations he held for PayPal prior to its acquisition by eBay. By weaving cryptocurrency functionalities into Twitter, Musk could potentially challenge and innovate within the established financial industry.
CryptosRUs anticipates that Musk will integrate major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and possibly others, into the Twitter platform. The application might also leverage the Lightning Network for swift transactions, as well as offer an in-built cryptocurrency wallet and exchange.
Should Musk realize these plans, it could greatly accelerate the adoption of cryptocurrencies, according to CryptosRUs. When combined with other potential developments, like the approval of spot Bitcoin ETFs and new regulations in 2024, the analyst foresees a breakthrough year for the crypto industry.
2024 is shaping up to be an extraordinary year. You’ve got all of these developments, the SEC possibly facing setbacks, the Bitcoin halving event, potential interest rate cuts, and the introduction of spot Bitcoin ETFs. And let’s not forget, there are also pending applications for Ethereum spot ETFs.
I believe there’s a presidential election on the horizon, and we are likely to see more inflation worldwide. This could drive more people towards Bitcoin. I mean, the list goes on. I’m really optimistic about 2024.
If Musk successfully integrates cryptocurrency into Twitter, CryptosRUs is of the opinion that crypto prices could see dramatic increases. He forecasts that Bitcoin could hit $125,000 by the end of 2024, and Dogecoin might revisit its historical peak around $0.70, potentially even climbing to $5 or beyond by 2025.