Twitter: Elon Musk implements Bitcoin price indices
Twitter: Elon Musk implements Bitcoin price indices

Twitter: Elon Musk implements Bitcoin price indices

By Andrea Porcelli - 22 Dec 2022

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The social platform, run by Elon Musk has added a new feature: starting today Twitter has a new crypto feature that allows users to search the price of Bitcoin by simply typing its name in the search bar. 

According to Elon Musk, it is one of many “product enhancements” related to the financial side of Twitter. This new feature appears to be an enhancement of “$Cashtags.”

It’s very simple: when tweeting the symbol with $ in front of a major cryptocurrency (e.g. Bitcoin), the search will automatically give price charts of the tweeted symbols. 

Elon Musk’s innovation, Bitcoin price visible directly on Twitter

The new Twitter feature that provides the price of Bitcoin (and also Ethereum) via the coin tag could almost be called a hashtag (#). As of 22 December, cashtag search results include price charts for major stock symbols, ETFs and cryptocurrencies. At the time of this report, BTC and ETH are the only two cryptocurrencies with price charts. 

Other major cryptocurrencies, including Musk’s beloved Dogecoin, are expected to make an entry on Twitter in the coming weeks:

“In the coming weeks, we will refine the user experience and expand our symbol coverage.”

Jane Manchun Wong, a blogger specializing in cryptocurrencies and new technologies, noted yesterday that the price charts come from TradingView’s analytics platform. 

But there’s more, in the new feature it is also possible to access the Robinhood trading platform, via a link that is in the charts feature. No details were disclosed about the partnership between Twitter and Robinhood, but it appears that the two have collaborated together on this Twitter integration. The partnership with Twitter can only benefit Robinhood, given the immense traffic on Elon Musk‘s social platform.

Twitter and its interest in crypto

With over 300 million active users, it is one of the social networks with the most cultural and political influence. Since the social has a new owner, some have wondered if cryptocurrencies will come to Twitter, precisely because of Elon Musk. The entrepreneur’s ideas about Twitter’s crypto future are currently unclear.  

The question all investors are asking is whether Musk’s entry into the Twitter world is good for the crypto ecosystem. However, the link between cryptocurrencies, blockchain, and Twitter remains very vague. The most plausible option is to introduce crypto as a payment system and dedicate sections to NFTs.

In addition, rumors have been circulating for some time that Twitter is creating its own native token called “Twitter Coin,” which will be launched to be used as a payment method on the platform. Although these are rumors that have been circulating recently and are not very clear, users are very curious to find out what Elon Musk means by “Twitter 2.0.”

There has also been a swarm of posts under the hashtag TwitterCoin, with many people excited but ultimately unsurprised that the social media platform might be working on new payment tracks and system integrations now that Elon Musk is at the helm.

In short, Elon Musk’s plan is to turn Twitter’s platform into a full-fledged app capable of providing every service. From information, to payments, to the crypto world, Elon Musk wants to take Twitter to become a true “everything app.”

The future of Twitter updates will almost certainly include even more of the blockchain and cryptocurrency ecosystem in the platform. Skeptics who have not believed in Twitter since Elon Musk’s acquisition will find themselves having to return to the social platform to admire the change made by the former CEO of Tesla. 

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