This news came from Elon Musk as a response to rising, scam-related tokens that are using his company name to deceive naive buyers or consumers who lose billions per year to coins that are misrepresented. After years of rumors and speculation by crypto fans and onlookers, the Tesla CEO and billionaire shared his choice to lay the prospect of launching a coin to rest.
This is sad news for Doge and meme-coin fans that long rallied support for an X/Twitter coin but with so many refreshing, high-ROI coins like BTCX Token hitting the scene (a coin with deflationary traits that improve on Bitcoin to make transactions and stakeholder profits easier), there is still a plethora of portfolio-worthy coins and projects that have great scopes and forecasts.
Given the informalities the Tesla CEO is known for, it should come as no surprise the announcement was via his reply to a tweet and not an official statement or public announcement.
What sparked the Reply From Mister Musk?
Well, a user with over two hundred thousand followers (who has had past engagements with Musk and Linda Yaccarino) made a tweet saying “X and Musk will never launch a crypto coin” to which Elon sternly replied, "and we never will".
Despite the statement that makes it clear no coin is in the works or being planned, this does not mean it will not be explored or included in future versions of the app/platform, and some still have hope Elon will one day launch a coin as his fanaticism over Doge (a meme coin with no real utility) has many thinking his change-of-mind is still possible.
The so-called Dogefather was a lightning rod for scrutiny and attention this past year as he took over ownership of Twitter for a measly sum of forty-four billion dollars, to then swap the iconic blue-bird logo for one that closely mimicked that of Dogecoin (this change lead to a twenty percent rise in the value of Doge, and an over two hundred billion dollar lawsuit against Musk for insider trading and racketeering).
It is safe to say Elon Musk and the actions and statements he puts out have stirred crypto communities, and mixed signals on his take and plans were mixed but his recent statement gives us all a firm answer.
Elon Musk and His Secret Crypto Project
In 2021, Doge devs said they worked with Musk for years to create a cheaper and greener coin that was more economical than BTC, and as early as this year we heard they were putting out a service or product that would support crypto payments but since that news broke no news or updates have since followed.
While crypto fans and fanatics should not hold their breath on the release of an X or Twitter coin, never do we truly know what he has up his sleeve, and the event of him making a coin can never be ruled out.
Will There Be an X Crypto Coin?
Likely not as Musk clearly and recently said there will never be an X or Twitter coin so unless he has a big change of mind, the answer is no, an X/Twitter crypto coin is not being made nor is one being planned.
Will There Be a Twitter Crypto Coin?
As said above, Musk has no interest in launching a branded or personal coin and said one will never be coming, perhaps we will one day see one if he sees a good reason or opportunity to create/launch one.
An X Coin May Not Be Coming But Other Great Alternatives Are
Sure, XCoin will never be a thing as Musk has no interest in the idea but this does not mean other great coins and projects are not coming, let us briefly highlight our current-favorite coin and project that truly gives BTC a run for its money. This coin is BTCX Token, a green, next-gen coin that is not only great for staking and earning passive income but for those that want a coin that is highly resistant to economic deflation.
BTC has high fees and lacks measures to ensure its value is not impacted by deflation, in contrast, BTCX Token has lower fees and measures in place that protect its value from deflation and the effects of recession.
Popular Influencers are already making a positive impact! When it comes to BTCX Token, the excitement is truly building up and the progress is truly impressive. Dan clearly quoted BTCX not only has the potential to be among the top x1000 Defi Project, it has the potential to surpass PEPE.
BTCX Token will no doubt revolutionize the crypto space as its hyper-deflationary nature assures stakeholders passive income and peace of mind. The secure, profitable, and sustainable ecosystem it aims to provide will change how investors and consumers spend and invest as the low fees and fast transaction times truly makes it the Deflationary Bitcoin of our age, and early on is the best of times to join this project that will no doubt be one of the best to hit the crypto scene this year.