Insights on X Payments, DOGE Army Abuzz; SHIB Burn Rate Surges 4,240%; Tesla Reveals Its Bitcoin Holdings: Crypto News Digest
Elon Musk, CEO at Tesla and world-famous entrepreneur, recently shared intriguing insights into the future of the X platform in a conversation with Ben Shapiro. According to Musk, the future version of X is set to be “all things that you would want to use online,” and will be “what PayPal should have been.” Musk also revealed that the eagerly awaited X payments feature is set to launch later this year, sparking discussions about DOGE’s possible integration into the payments ecosystem among Dogecoin users. Musk has previously included the meme coin as a payment option on Tesla’s official merchandise store and occasionally posts about DOGE on social media.
According to recent data from the Shibburn tracker’s website, the percentage of burned SHIB tokens saw a significant spike, reaching a staggering 4,240% increase. The SHIB community managed to incinerate 15,712,916 SHIB, while the SHIB development team has announced the beginning of a “new burn era” for Shiba Inu and started testing a revolutionary new Shibarium mechanism for burning SHIB coins. This mechanism will be essential for Shibarium’s economic model, as trillions of Shiba Inu are intended to be burned through it.
Tesla has recently revealed its financial report for Q4, 2023, recording a total revenue of $25.2 billion and an operating profit of $2.1 billion. Notably, during the quarter, Tesla neither bought nor sold any Bitcoin, maintaining its holding of 9,720 BTC for six consecutive quarters. However, the company received mixed reviews on its quarterly performance, with automotive revenue seeing a mere 1% year-over-year increase and overall revenue and earnings per share falling slightly short of market expectations.
This article was originally published on U.Today
