Elon Musk Hints Twitter Will Integrate Crypto Payments If His Tender Offer Succeeds

Elon Musk Hints Twitter Will Integrate Crypto Payments If His Tender Offer Succeeds

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Tesla CEO Elon Musk has suggested integrating crypto payments into Twitter. “My goal would be to maximize the usefulness of the service,” he told Twitter employees during his first meeting with them.

Twitter’s first general meeting with Elon Musk, incorporating crypto payments

Tesla and Spacex CEO Elon Musk, who could become the new owner of Twitter Inc., had his first all-hands meeting with Twitter employees on Thursday.

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Musk answered numerous questions about how he plans to run the social media company if his bid to buy Twitter is successful. However, the $44 billion deal is currently on hold, and Musk has accused Twitter of a material breach of the merger agreement.

During the meeting, Musk mentioned crypto a few times, according to a leaked meeting transcript and a leaked video posted by Project Veritas.

Twitter Marketing Director Leslie Berland asked Musk, “Can you talk a bit about Twitter and payments?”

The Tesla boss began by stating that “money is essentially a form of information”, adding that it is “fundamentally digital”. He added:

I think it would make sense to integrate payments into Twitter so it’s easy to send money back and forth, and fiat currency as well as crypto – basically anything anyone wants. one would find useful.

“So my goal would be to maximize the usefulness of the service – the more useful the better. And if it can be used to make convenient payments, that’s an increase in utility,” he said.

Crypto Scams and Spam Accounts

Berland also asked Musk about some issues he sees with Twitter. The CEO of Tesla replied:

There is certainly an ongoing challenge with Twitter with bot accounts and spam accounts. There are a lot of crypto scams on Twitter.

“It’s gotten better, but there’s still a lot of stuff,” he continued. “There are also people who are not necessarily bots, but who may be operating. You know, one person manages hundreds of accounts and tries to make them look like individuals, but that’s not the case.

Musk has previously said the spam bot is the most annoying problem on Twitter and he’s vowed to beat it “or die trying” if his bid to buy the social media platform is successful.

Transparency, trust and freedom of expression

Musk further explained to Twitter employees, “I think it’s extremely important that there is transparency. This is why I advocate that the algorithm be open source so that people can critique it, improve it, identify bugs, potentially, or biases.

Noting that “transparency obviously increases trust”, underlined the boss of Spacex:

I think trust is extremely important, and then just the usefulness of the system – getting rid of sort of troll farms, bots and spam is extremely important.

Regarding freedom of speech, Musk said, “I think it’s essential to have freedom of speech and to be able to communicate freely… It’s freedom of speech in the context of the law. So, I’m not talking about suggesting that we’re just flouting the law, because we’ll just be shut down in that case.

What do you think of how Elon Musk will run Twitter? Let us know in the comments section below.

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Kevin Helms

An economics student from Austria, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

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