In a resolute statement, Elon Musk, the enigmatic CEO of the popular X app (formerly known as Twitter), put an end to swirling rumors about the platform’s alleged plans to create and launch its own cryptocurrency. The announcement came as a surprise to many in the crypto community who had been eagerly anticipating a potential integration of digital assets on the social media giant.

The buzz around the possibility of X developing a native cryptocurrency began to circulate in October of the previous year when Elon Musk finalized the jaw-dropping deal to acquire Twitter for a staggering $44 billion. The acquisition, a defining moment in the tech world, sparked curiosity and excitement among crypto enthusiasts, particularly those ardently supporting Dogecoin (DOGE), the humorous and meme-inspired digital currency.

The Dogecoin community, in particular, held fervent hopes that Musk’s acquisition of Twitter would pave the way for the implementation of DOGE for micropayments and content creators’ tips. Dogecoin, which started as a lighthearted joke in the cryptocurrency space, gained immense popularity, largely thanks to Musk’s playful endorsements and humorous tweets about it.

However, the anticipation was met with a clear statement from the X CEO, dismissing any notion of a native cryptocurrency being developed for the platform. Musk categorically stated that no “X coin” would ever see the light of day, dashing the aspirations of those expecting an internal digital currency to enhance the platform’s offerings.

Instead of introducing a native cryptocurrency, X unveiled the Subscription feature, designed to empower content creators with the ability to receive monthly micropayments from their subscribers. This innovative move was welcomed with enthusiasm by the Twitter community and was perceived as a step in the right direction for enabling creators to monetize their content and interact more effectively with their audiences.

Musk’s announcement went further, stating that after the first year of implementation, the platform would refrain from charging any fees on creators’ earnings until the total payment threshold reached $100,000. This decision garnered positive feedback from creators and users alike, as it meant they could retain a larger share of their earnings.

Despite the Subscription feature’s integration, it is essential to clarify that transactions made through this system are currently conducted exclusively in fiat currency, not in cryptocurrencies. Prior to its rebranding as X, Twitter was reportedly exploring the idea of introducing a “Coins” feature, fueling speculations about cryptocurrency integration. However, Musk’s unequivocal statement has quelled any lingering doubts regarding the platform’s plans for a native cryptocurrency.

While the prospect of an X-native cryptocurrency has been ruled out, the crypto community continues to hold onto hope for the integration of Dogecoin on the platform. Musk’s affinity for Dogecoin has been evident in his public endorsements, where he touted it as a compelling alternative to Bitcoin and expressed his desire for Twitter to utilize it for internal payments.

The ambiguity surrounding the potential inclusion of Dogecoin payments on X has left the community eager for further insights from Musk or any updates within the platform that could indicate crypto integration. While there are currently no concrete plans or indications of Dogecoin’s implementation, Musk’s track record of unpredictability has instilled a sense of optimism among supporters.

Despite the lack of certainty, the crypto community remains watchful, anticipating any clues or future developments that might suggest a shift toward cryptocurrency integration on the popular social media platform. Until then, users and creators on X can continue to benefit from the Subscription feature and the promise of lower fees on their earnings.

In conclusion, Elon Musk’s resolute statement has put to rest the speculations about X’s native cryptocurrency. While the Subscription feature empowers content creators with micropayments in fiat currency, the platform currently has no plans to launch a native cryptocurrency. The crypto community’s hope for Dogecoin integration persists, and the eyes of enthusiasts remain fixed on any developments that may herald a new era of digital currency on the widely-used social media platform.