Elon Musk Reveals X Money May Launch Soon, Fueling Crypto Speculation

BeInCrypto2026/02/12 10:39

By:BeInCrypto

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!

A welcome pack worth 6200 USDT for new users! Sign up now!

As part of the strategy to turn X (formerly Twitter) into a super app or Everything App, a key missing piece, X Money, is beginning to take shape. X aims to be more than a social media platform. Elon Musk wants to transform it into a personal finance game-changer. Users could handle messaging, shopping, and full personal asset management in one place. Why Are Crypto Investors Excited About X Money? During an xAI All Hands presentation in February 2026, Elon Musk revealed that X Money is already running in internal testing among X employees. A limited rollout to users is expected within the next one to two months. Since xAI was formed just 30 months ago, the small and talented team has made remarkable progress.The future has never looked more exciting! pic.twitter.com/QZ73H2mpBj xAI (@xai) February 11, 2026 X Money has secured money transmitter licenses in more than 40 US states. It also established strategic partnerships with major payment giants such as Visa last year. For X Money, we actually had X Money live in closed beta within the company, and we expect in the next month or two to go to a limited external beta and then to go worldwide to all X users. And this is really intended to be the place where all the money is, the central source of all monetary transactions. So its really going to be a game-changer, Elon Musk said. Musk aims to push monthly active users past 600 million and ultimately reach 1 billion. Analysts compare this ambition to building an everything app similar to Chinas WeChat. As a result, X Money represents a major opportunity for any crypto project that accepts it as a payment method or is indirectly connected to the platform. However, X Money has never confirmed that crypto will be used as a payment option. Investors, meanwhile, continue to build their own narratives. The first speculation centers on Dogecoin (DOGE). This meme coin closely aligns with Elon Musks personal brand. The theory stems from Musks past comments suggesting DOGE could be suitable for micropayments. Dogecoin will become the official currency on X pic.twitter.com/ndeeSkW2Hj Tesla Owners Silicon Valley (@teslaownersSV) August 5, 2023 The second speculation involves XRP. This hypothesis is linked to Cross River Bank, a financial partner working with X to process payment flows. Since 2014, Cross River Bank has integrated Ripples protocol to enable real-time cross-border payments between the US and Western Europe. Despite these narratives, DOGE and XRP prices showed no significant reaction to news of X Moneys upcoming launch. In the coming months, once X Money officially goes live as planned, its impact on crypto markets and the global financial system may become clearer.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.

Trade now！

09:12 AM EDT, 10/06/2026 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.5% and the actively traded Invesco QQQ Trust (QQQ) was 0.6% higher in Tuesday's premarket activity amid lower oil prices and optimism around tech stocks. US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.7%, and Nasdaq futures gaining 0.7% before the start of regular trading. The US international trade deficit widened to $105.57 billion in August from a $92.83 billion gap in July, compared with a $102.1 billion gap expected in a survey compiled by Bloomberg as of 7:35 am ET. In premarket activity, bitcoin was up by 0.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1% higher, Ether ETF (EETH) advanced 1.6%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat. Power Play: Health Care The State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, while the Vanguard Health Care Index Fund (VHT) and the iShares US Healthcare ETF (IYH) were inactive. The iShares Biotechnology ETF (IBB) was 0.7% higher. Option Care Health (OPCH) shares were up 21% pre-bell Tuesday after McKesson (MCK) and CD&R agreed to buy the company for roughly $5.80 billion. Winners and Losers: Technology The State Street Technology Select Sector SPDR ETF (XLK) gained 0.7%, the iShares US Technology ETF (IYW) was 0.5% higher, and the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) rose by 0.5%. Xanadu Quantum Technologies (XNDU) shares were up 7% in premarket activity after the company entered a multiyear deal with GlobalFoundries (GFS). GlobalFoundries was 1.4% higher. Financial The State Street Financial Select Sector SPDR ETF (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.9%, while its bearish counterpart, Direxion Daily Financial Be

MT newswire•2026/10/06 13:12

Iran Tries to Oust Diplomat Who Met Trump Envoys: Will It Reverse Oil Price Slide?

BeInCrypto•2026/10/06 12:48

EasyA Co-Founder Phil Kwok Drops Bombshell Statement for XRP Army

TimesTabloid•2026/10/06 12:03

CENOVUS ENERGY INCORPORATION <CVE.TO>: RAYMOND JAMES RAISES TARGET PRICE TO C$53 FROM C$51

CENOVUS ENERGY INCORPORATION : RAYMOND JAMES RAISES TARGET PRICE TO C$53 FROM C$51

Reuters•2026/10/06 11:49