Elon Musk’s plan to turn X into a super app, similar to WeChat, is likely to include cryptocurrency integration, according to Anthony Scaramucci, founder of SkyBridge Capital and former White House communications director.
Scaramucci believes Musk will incorporate crypto into X’s ecosystem, although he doesn’t know what type of cryptocurrency will be used. He has invested in several Musk-owned companies, including SpaceX, xAI, and X, and is in touch with key executives.
Musk’s Vision for X
Musk has described X as an “app for everything,” inspired by WeChat, which combines messaging, payments, and business services. X has already taken its first step towards becoming a financial platform by partnering with Visa to launch “X Money Account,” a digital wallet that allows users to move funds between traditional bank accounts and the platform.
This move suggests Musk is cautiously advancing towards a financial infrastructure that could eventually incorporate digital assets. While Musk has been ambiguous about his relationship with cryptocurrencies, he has promoted Dogecoin and invested in Bitcoin through Tesla.
Crypto Integration
Scaramucci thinks X will likely integrate cryptocurrency, but the details are still unclear. He speculates that it could be a stablecoin or a native token, similar to Telegram’s approach. The integration would align with the growing trend of digital assets being used in mainstream finance.
The crypto community is eagerly awaiting potential announcements from Musk and X. Scaramucci remains optimistic, stating that the innovation around X won’t be limited to traditional payment methods.
Broader Implications
The potential integration of cryptocurrency into X is significant, given the global financial ecosystem’s increasing openness to digital services. Users are seeking integrated solutions that combine communication, finance, and entertainment.
Scaramucci also discussed the broader crypto industry and US economic policy. He praised Trump’s administration for its pro-crypto regulation but criticized his trade policies. Scaramucci defended Bitcoin’s dual role as a risk asset and inflation hedge, stating that it will remain resilient even in the face of economic recession.
In the context of high macroeconomic volatility, institutional investors increasingly view digital assets as a legitimate component of diversified portfolios.