Market News

Bitcoin Meets Tesla: Musk Unveils XChat with BTC-style Encryption

Tesla CEO Elon Musk has recently announced a new feature called XChat on his social media platform, X.

This innovative messaging service will employ Bitcoin (BTC)-style encryption and support various file types, potentially enhancing online privacy.

Musk touted XChat's capabilities, highlighting end-to-end security, vanishing messages, and options for audio and video calling.

However, Musk’s assertion that XChat uses Bitcoin-style encryption has drawn criticism from Bitcoin developers and cryptography experts.

Bitcoin Core developer Luke Dashjr pointed out that Bitcoin itself does not utilize encryption, suggesting a misunderstanding on Musk's part.

Samson Mow, CEO of JAN3 and Bitcoin supporter, echoed this sentiment, amplifying concerns within the community.

Musk's announcement follows claims of a partnership between Telegram and Musk’s xAI, which he denied, saying no agreements had been signed.

This controversy illustrates the ongoing tension between cryptocurrency enthusiasts and public figures who influence the market.

As communication and technology evolve, the implications of integrating such features into messaging platforms will be closely examined.

The intersection of crypto and technology continues to raise questions, particularly regarding security and accuracy in representation.