Strike CEO Says Platform Could Integrate Bitcoin Lightning Payments For Twitter Blue ‘In Days’
Following Elon Musk’s acquisition of Twitter (NASDAQ: TWTR ), there has been much speculation about the new owner’s interest in the cryptocurrency industry and how the social media platform could be used to include crypto payments.
In response to Elon Musk’s chirping, in which the CEO of Tesla (NASDAQ: TSLA ) said he would remove the outdated blue tick system and give “power to the people!” for just $8 each month, Strike founder and CEO Jack Mallers said on Nov. 2 that the company could integrate Bitcoin Lightning payments for Twitter Blue subscriptions “within days.”
Mallers stated that Lightning Network payments that are instant and “almost free” Bitcoin payments should be an accepted payment method.
“My company (Strike) partnered with Twitter to enable Lightning Tips. We even offer the option to settle these payments in USD, so there’s no extra push for Twitter (settled and reported as a card payment). This can implemented in days, given that we already have a partnership.”
Crypto payments for verification well received
In particular, the Lightning Network, a layer-2 scaling solution intended to make BTC transactions faster and cheaper, has continued to gather use cases. For example, the introduction of Bitcoin as legal tender in El Salvador has given the platform a real use case.
The increasing capacity of the Lightning Network will potentially lead to an increase in the everyday use of Bitcoin, such as payments and investment opportunities that drive the asset’s use.
Furthermore, the idea of using cryptocurrency payments for verification for Twitter Blue purposes has so far been met with positive feedback from members of the cryptocurrency community. Crypto trading expert, Michaël van de Poppe, writes, wrote:
“Twitter verification payments should be easily done through Bitcoin Lightning – Jack Mallers. It’s time for the big crypto evolution.”
Binance wants to bring Twitter into Web3
Earlier this week, on October 31, Changpeng Zhao, commonly known as “CZ”, the founder and CEO of Binance, stated that there are many reasons to support the deal, in which Binance invested $500 million in Twitter. CZ said he wants to help bring Twitter into Web3, but added:
“We want to help solve immediate problems like charging for membership etc, this can be done very easily and globally using cryptocurrencies as a means of payment.”
Elsewhere, when it comes to the use of crypto as a means of payment on Twitter, many believe that the recent price increase of Dogecoin (DOGE) can be attributed to the token’s potential use case on Twitter as a payment system, given that Musk’s electric car company Tesla already allows the use of Dogecoin to purchase goods .
