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Neither X nor Elon Musk has made official comments regarding the removal of the Bitcoin emoji. However, it is speculated that the move signifies Musk’s discontinuation of support for the leading crypto asset.
In a surprising move, Elon Musk has removed the orange Bitcoin emoji from the hashtag on the social media platform X, formerly known as Twitter. This change, first reported by WatcherGuru, has caught the attention of the crypto community, with many questioning the motive behind the move.
Previously, users who included the hashtag #Bitcoin in their tweets would see an orange Bitcoin symbol automatically appear next to the tag. This feature, which had become a recognizable marker of Bitcoin discussions on the platform, has now been discontinued without prior notice or explanation.
Community Reactions
The removal has caused significant reactions from the crypto Twitter community (CT), with many asking for the Bitcoin emoji to be reinstated. Some users, however, suggest that the removal represents the end of the bull run, urging others to pack their bags and leave.
bull run over
pack it up guys pic.twitter.com/RmuVZollw3
— alexjm (@alexjmingolla) July 26, 2024
One user, while responding to WatcherGuru, suggested that Musk should not return the Bitcoin emoji but replace it with an XRP symbol instead. Another user named Lola expressed a desire to see SHIB’s emoji take the place of Bitcoin’s orange sticker.
While the industry is still reacting to the removal of the Bitcoin emoji with varied opinions, Fact Protocol, a decentralized network focused on artificial intelligence and the Web 3.0 ecosystem, has teamed up with Nexo, a prominent crypto lender, to launch a Bitcoin Emoji Initiative to bring the emoji back.
Through this program, the two firms have introduced a proposal to the Unicode Consortium to add the Bitcoin emoji to keyboards worldwide.
If granted, the Bitcoin emoji will be made available on every PC and mobile keyboard globally. Fact Protocol stated that the Consortium has until November to reach a decision.
Speculations and Future Plans
Meanwhile, neither X nor Elon Musk has made official comments regarding the removal of the Bitcoin emoji. However, it is speculated that the move signifies Musk’s discontinuation of support for the leading crypto asset.
Recall that in 2021, Musk revealed plans to accept Bitcoin (BTC) for payments for his electric vehicles after the company, Tesla, purchased $1.5 billion worth of the crypto asset.
That same year, the firm briefly accepted BTC for its products before ending the service due to Bitcoin’s Proof-of-Work (PoW) consensus mechanism, which does not align with the company’s business model.
Since then, Musk has personally stayed away from Bitcoin but has supported other cryptocurrencies such as Dogecoin (DOGE). His support for the meme coin earned him the title of DOGE Father.
In April last year, he briefly changed Twitter’s (X) popular bluebird logo to DOGE after acquiring the social media company for $44 billion.
However, things have changed since Musk’s revelation of turning the platform into an everything app. The billionaire CEO of both Tesla and SpaceX has acquired payment transmitter licenses from major US states to transform X beyond just a social media platform.
This move will allow users to send and receive fiat currencies directly on the platform, with no plans to include cryptocurrencies.
