Elon Musk Takes Twitter to New Heights with Financial Instruments

Elon Musk Unveils Exciting Update: Financial Instruments Now on Twitter

Key Insights

  • Elon Musk announced the addition of financial instruments to Twitter, which is changing its name to X.com.
  • According to him, users will have “the ability to manage their entire financial world.”
  • Musk believes that in the new context, the name Twitter does not make sense, as the site expands and moves away from the 140-character limit.

Twitter, under its new name X.com, is set to expand its functionality by incorporating financial instruments, as announced by its owner, Elon Musk.

Financial instruments now on Twitter

“In the coming months, we will add comprehensive communication and the ability to manage your entire financial world. The name Twitter doesn’t make sense in this context,” Musk tweeted in response to the post of Bloomberg host John Erlichman, who listed the companies that changed their name.

Musk said he acquired Twitter both for freedom of speech and as a platform for super app X.

In his opinion, the name Twitter for the social network made sense as long as it had a limit of 140 characters. You can now post “virtually anything, including hours of video,” Musk said.

Related: Twitter New Feature Allows You to Post Long Articles and Books

The Twitter logo was changed from the familiar silhouette of a bird to an X symbol on July 24.

Musk chose a new logo from the options that users suggested.

On Monday, the X logo appeared in the design of the social network, as well as on the facade of the headquarters of Twitter in San Francisco.

Musk said that the company will soon say goodbye to both the Twitter brand itself and all references to birds.

Musk bought Twitter for $44 billion in 2022. After that, the company, which was public, became private, and in April 2023, Twitter Inc. was merged with billionaire-owned X Corp. Musk announced plans to create a “super app” that combines different functionality within one program, similar to the Chinese messenger WeChat.

Billionaire Twitter co-founder Jack Dorsey criticized the sale of the company to Musk in April and said that “everything went wrong” after the deal.

He created a new social network Bluesky, which is currently only available by invitation. Prior to this, Dorsey, who has been friends with Musk for many years, has supported the deal and said that such a purchase is the only decision he trusts.

Musk on July 25 is ranked first in the list of the richest businessmen in the world according to Forbes with a fortune of $242.4 billion.

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