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Elon Musk has big plans for crypto: analyst
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According to popular crypto analyst CryptosRUs, Tesla and Twitter CEO Elon Musk could have major initiatives involving cryptocurrencies coming in 2024.
In a livestream on Oct. 27th, CryptosRUs speculated that Musk is planning to transform Twitter into a “financial app” that could replace traditional banking and integrate crypto capabilities. Most of the speculation is based on an recent interview published by The Verge.
Elon just conducted an interview where he’s talking about making X a financial app by 2024.
And he’s talking about it like this will replace everything, everything. He’s talking about fiat. He’s talking about securities and even crypto. Basically, he wants to make X the sole app for all things financial.
CryptosRUs
The analyst believes Musk wants to fulfill the original vision he had for PayPal before it was acquired by eBay. By integrating crypto into Twitter’s platform, Musk could attempt to disrupt the traditional finance sector.
CryptosRUs expects Musk will incorporate Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE) and potentially other major cryptocurrencies into Twitter’s services. The app could also potentially utilize Lightning Network for instant transfers and have a built-in crypto wallet and exchange.
If Musk executes on these ambitions, it would be a huge catalyst for crypto adoption, according to CryptosRUs. Combined with other potential developments like spot Bitcoin ETF approvals and new regulations in 2024, the analyst predicts it will be a breakout year for the crypto market.
2024 is going to be an insane year. You have this. You have SEC losing. You had the halving event. You had rate cuts. You have spot Bitcoin ETF. I didn’t even mention you can have Ethereum spot ETFs too. Those applications are pending as well.
I think we got a presidential election and we’re probably going to get more inflation around the world. And that turns people to Bitcoin. I mean, I could go on and on and on and on and on. 2024 is going to be so good, in my opinion.
CryptosRUs
If Musk delivers on integrating crypto into Twitter, CryptosRUs believes prices could skyrocket. He predicts Bitcoin could reach $125,000 by end of 2024, and Dogecoin could return to its all-time high around $0.70 and possibly surge to $5 or more by 2025.
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