Elon Musk's X platform 'ultimate aim' might shake up the cryptocurrency market.  

An executive at Elon Musk's social media startup X has stated that the platform's payments "end goal"  

might have a negative impact on the Bitcoin price and the overall cryptocurrency market.  

Musk has previously indicated his ambition for X to become a "everything app".   

Christopher Stanley, the social network's payments chief information security officer, recently wrote on the platform  

The suspicion arises as the company's money-transmitter licenses enable it to accept US dollars and cryptocurrency payments on its site.  

"Think Venmo at first," Stanley wrote. "Then, as things evolve, you can gain interest, buy products, eventually use it to buy things in stores (think Apple Pay), etc."  

Last month, Musk hinted at the potential of purchasing Tesla vehicles with his preferred memecoin cryptocurrency, Dogecoin, declaring "Dogecoin to the moon."  

Musk's company, PayPal, has played a significant role in the recent expansion of bitcoin.   

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