Elon Musk Says X Will Not Support Direct Bitcoin Trading, Investors Disappointed

▲ X (formerly Twitter), virtual assets, cryptocurrency, virtual asset trading / ChatGPT-generated image

X (formerly Twitter) has confirmed that it will not introduce a feature allowing users to trade cryptocurrencies directly on the platform, putting an end to heated market speculation.

According to cryptocurrency-focused media outlet U.Today on February 15 (local time), X plans to support cryptocurrency and stock trading through a partnership with the global investment platform eToro instead of building its own trading system. As a result, users will be able to check price information on the X timeline and then move to the eToro platform to execute actual trades.

Christopher Stanley, head of product at X, recently clarified through his account that X will not act as a direct intermediary for financial transactions. Stanley added that X’s role will be limited to providing real-time market data and connecting users to a seamless investment environment.

This news has disappointed investors who had anticipated that Dogecoin (DOGE) would be adopted as an official payment method on X and traded directly within the platform. As Elon Musk, the world’s richest person, has repeatedly emphasized his vision of transforming X into an “everything app” encompassing finance and communication, the market had been expecting the introduction of an internal payment system.

With major cryptocurrencies, including Bitcoin (BTC), showing mixed price movements following X’s announcement, investors are closely watching how far the integration with eToro will expand. Analysts largely believe that X chose external integration to avoid direct regulatory pressure while still expanding its influence as a financial platform.

Disclaimer: This article is for investment reference only and the publisher is not responsible for any investment losses incurred based on this information. The content should be interpreted for informational purposes only.