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Twitter prepares to accept bitcoin as tip payment

September 2, 2021 | 11:42 am

The price of bitcoin exceeded $ 50,000 this Thursday, after it became known that Twitter will start paying tips with cryptocurrency to content creators as early as this year.

The cryptocurrency The world’s most popular rose to a session high of $ 50,362, according to Bloomberg, the highest price since August 23, when it hit its best level in three months.

At 11:15 am (Mexico City time), bitcoin cut gains and advanced 4.5%, to $ 4,686. The digital currency links three positive sessions for the first time in two weeks, according to Investing.com.

Other cryptocurrencies such as cardano, solana and polkadot also registered increases, which raised the total market value to 2.3 billion dollars, according to the prices of CoinGecko.com.

Twitter is working to add bitcoin to “Tip Jar”, which it launched in May of this year, an option in which creators can include a payment service account to get financial help from their followers.

The plans were revealed on Wednesday by the app developer and researcher, Alessandro paluzzi, who is known for leaking details about what social media has been working on.

Hours later, Kayvon BeykpurTwitter Product Manager shared Paluzzi’s tweet stating that the new feature will be available soon.

“Two fundamental factors are behind the momentum of bitcoin: Twitter’s potential integration of the coin as a payment option in Tip Jar, and its launch as legal tender in El Salvador on September 7,” said Petr Kozyakov, co-founder. and CEO of the global payments network Mercuryo, quoted by Bloomberg.

Cryptocurrencies have surged this year amid increased interest from institutional investors and accelerating development in areas such as decentralized finance, known as DeFi, and the non-fungible tokens or NFT.

Bitcoin hit an all-time high above $ 63,500 in April, however, China’s growing regulations on the market had an impact on its price, which has lost more than 20% of its value, although expectations for the close of the year are positive.

“While we expect the 50,000 price to hold, bitcoin buyers are exercising more optimism for an even bigger profit by the end of the year,” Kozyakov noted.

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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