Tesla CEO Musk rebrands Twitter as X, which may open the door to cryptocurrency payments. Is it time to buy XRP, XLMDOGE, Bitcoin, BTC, 20 Ethereum?

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Will Elon Musk’s plan to transform Twitter into a super app similar to China’s WeChat provide an opportunity for cryptocurrencies as a payment method? This is the most striking question in the cryptocurrency industry after Musk rebranded Twitter as X today.
Before buying Twitter for $44 billion in October 2022, Musk said he intended to accelerate his ambitious "everything app" plan, or "X."
Today, he said that if done right, X applications built on Twitter, ranging from payments to shopping, could become half of the global financial system.
Rebranding Twitter as X reinforces the billionaire’s long-standing commitment to an “everything” super app, similar to China’s WeChat, India’s PayTM and Indonesia’s GoJek.
Elon Musk's Vision X includes banking, payments, shopping
Twitter's new CEO Linda Iaccarino posted a photo of the company's new logo and announced: "Here comes the X! Let's get started."
In her previous tweets, Yaccarino hinted at the possibility of incorporating AI into new super apps, saying X stands for a future of infinite interactions, focusing on audio, video, messaging, payments and banking, ultimately creating a global marketplace for ideas, goods, services and opportunities.
Therefore, cryptocurrency payments could be part of the future of super apps, given the Twitter owner’s close ties to the industry. Musk’s long-standing relationship with the popular meme coin DOGE also hints at the potential for cryptocurrency to become an important part of X’s payment system.
Top Cryptocurrencies That Could Be Integrated Into Elon Musk’s X
So, which tokens are most likely to become payment methods allowed by X? The most likely choices are probably Bitcoin and Dogecoin, for obvious reasons. Other possible tokens include Ripple's XRP, Stellar (XLM), BTC20, and Ethereum (ETH)?
Bitcoin was originally designed as a peer-to-peer payment network. Due to its popularity, growing adoption, and value as the largest cryptocurrency by market cap, it has become one of the top choices for those who want to use it as a payment platform. Unfortunately, the Bitcoin network has proven to be too slow and volatile to become a realistic global digital payment option.
However, X can use the Lightning Network, which runs on the Bitcoin blockchain and uses multi-signature wallets in order to create off-chain payment channels. This allows for faster (1 million transactions per second), cheaper transactions, and the ability to make transactions without waiting for confirmation on the blockchain.
Dogecoin is closely associated with Elon Musk, who is sometimes referred to by the crypto community as the "Dogecoin Father." Every time Musk talks about the dog-themed coin, tweets about it, or posts a photo of his Shiba Inu dog, the price of Dogecoin surges.
This led many to believe that the billionaire entrepreneur might integrate the altcoin into Twitter payments, and now X. When he acquired Twitter last October, some Dogecoin enthusiasts called on Musk to integrate the meme coin into the social media app.
Besides Dogecoin’s close association with the Twitter boss, the Dogecoin blockchain would make a good payment platform for X for a number of reasons. First, it has potential as a payment system due to its fast transaction speed (33 times/second) and low fees. Second, its popularity means high liquidity, making it easy to buy and sell. This is attractive to X users, who may want to quickly liquidate their assets if necessary.
Ripple is a money transfer network designed to meet the needs of the financial services industry. XRP is the native crypto token of the Ripple network and it has consistently ranked among the top ten cryptocurrencies by market capitalization. Its scalability, 1,500 transactions per second (TPS), and inherent properties as carbon neutral and energy efficient make it a currency that Musk may choose.
The recent US court ruling that XRP is not a security may help increase adoption of the remittance token, thereby helping X achieve its goals. However, it is worth noting that the legal battle over whether XRP will be integrated into X is not over yet, and the SEC has stated that it will appeal parts of Judge Analisa Torres' ruling. This may become a hurdle for XRP to be integrated into X.
Stellar is a built-in protocol that automatically converts funds sent through Stellar into Stellar Lumens and then into the desired token. Since Stellar is designed to move financial resources quickly and reliably at minimal cost, it could be an easy choice for Elon Musk. Each transaction on this cross-border payment platform costs just 0.00001 XLM ($0.000014 at current exchange rates).
Additionally, the Stellar network can handle up to 4,000 transactions per second, with transactions settled within 3 to 5 seconds, much faster than many other blockchain platforms.
BTC20 is a new token inspired by market leader Bitcoin, built on Ethereum as an ERC-20 token. An interesting choice for X, BTC20 takes the blockchain back to April 2011, when Bitcoin’s price was just $1 and the circulating supply was 6.05 million tokens.
BTC20 is built on the Ethereum network and uses the Proof-of-Stake consensus mechanism, an environmentally friendly model that promotes sustainability. It also ensures that token holders passively earn a yield by staking to keep the network secure.
BTC20 raised over $1.5 million in presale within two weeks of launch.
Click here to learn how to participate in the ongoing presale.
Ethereum is the most widely used blockchain platform in the world. It has liquidity due to high demand for assets and widespread adoption. This shows that cryptocurrency users are ready to continue using it.
However, with only 15 transactions per second and high gas fees, Ethereum may not be the platform of choice for Musk and X. Layer 2 platforms built on the Ethereum blockchain such as Polygon (MATIC) (65,000 TPS), Arbitrum (40,000 TPS), and Optimism (2,000 TPS) may be better choices.
As Twitter morphs from bluebird to simply X, the tech giant continues to deal with debt and needs new strategies to bring it back to profitability after advertising revenue nearly halved.
One way to do this is by building it into a payment platform. Meanwhile, the crypto community is eagerly waiting to see whether cryptocurrency payments will be included, and if so, which tokens will be included.