Upcoming ‘PayPal Update’ sparks speculation around Bitcoin and altcoin prices
Recent reports have indicated that Elon Musk might be considering the transformation of X (former Twitter) into a modernized iteration of PayPal. Previously, a major institution’s endorsement of Bitcoin (BTC), like that of PayPal in late 2020, played a pivotal role in initiating a bullish surge in Bitcoin prices , at the time propelling its value to nearly $70,000. The future of X According to Charles Gasparino, a correspondent at Fox Business News, Elon Musk is engaged in ongoing discussions with prominent Wall Street executives concerning the future of X. SCOOP: @elonmusk continues to have conversations w top Wall Street executives on future of @X. Seems to be settling, they tell me, on a new fangled payment system, updated version of @PayPal. It will offer low transactions costs (as opposed to credit cards) & monetize user info — Charles Gasparino (@CGasparino) August 24, 2023 Sources suggest that Musk is leaning towards introducing an evolved payment sy...