During a December 21 interview with ARK Invest's Cathie Wood, Elon Musk discussed his plans for an "everything app," including a payment service feature expected to launch by mid-next year. This rollout hinges on the approval of several money transfer license applications. Musk expressed his eagerness to introduce the payment services on the social media platform, but noted that bureaucratic processes had slowed down the progress.
Musk mentioned that there weren't any apparent obstacles that might lead to the rejection of their license applications for remittances, although he admitted that X (formerly known as Twitter) was somewhat delayed in submitting the required documentation. Amidst speculation in the cryptocurrency community, many are hopeful that Musk might integrate popular cryptocurrencies like Dogecoin and Bitcoin into the X payment system. However, Musk has not confirmed such plans and seemed to downplay his interest in digital assets, stating he spends "little to no" time thinking about them.
Despite Musk's current disinterest in cryptocurrencies, Tesla, his electric vehicle company, continues to hold approximately $148 million in Bitcoin. Additionally, Tesla allows customers to purchase merchandise using Dogecoin. In 2022, reports indicated that The Boring Company, another Musk venture, started accepting Dogecoin for rides on its Las Vegas transit system. This suggests that while Musk may not focus heavily on cryptocurrencies, they still play a role in his businesses.
Musk shared his view on currencies and digital assets, considering them as "databases for resource allocation." He believes this system is acceptable as long as governments do not attempt to devalue fiat currencies through manipulation of their supply. This perspective underscores Musk's pragmatic approach to financial systems and their digital counterparts.
In the realm of artificial intelligence, Musk spoke about Grok, his own AI project. He aims to make Grok the most engaging large-scale language model. He humorously noted that users asking Grok for "gross baking" recipes would find the results particularly enjoyable. This comment reflects Musk's ongoing interest in developing AI technologies, even as his focus shifts to other projects like the everything app.
