According to leaked information on the newest beta version of Twitter for iOS, Twitter is exploring the option to tip in bitcoin. Bitcoin will be added to Twitter’s previously approved payment options for tipping content producers, according to several comments on the preview version for Apple’s iPhone, as well as pictures from beta users.
According to a MacRumors story from Tuesday, August 31st, code in the current beta version of Twitter for iOS shows that Twitter is planning to add bitcoin within the Tip Jar feature, which already has payment mechanisms in place.
Meanwhile, developer Alessandro Paluzzi (@alex193a) shared pictures of the Twitter for iOS beta on Wednesday, highlighting information from a section titled “Receiving tips in bitcoin” that includes questions like What is Lightning Network?
While no dates were disclosed for the launch of the final version of Twitter for iOS, the social network had already previewed its intention to add bitcoin to Tip Jar last July. At Twitter’s press conference on 22 July to announce its financial results for the second quarter of 2021, CEO Jack Dorsey reiterated that Bitcoin is described as “the internet’s native money”.
Jack Dorsey has already shown his support for bitcoin, including supporting Bitcoin Core developers through his firm Square Crypto. In addition, according to CryptoNews, Square has invested in bitcoin as a strategic reserve for the company. Twitter’s CEO recently revealed a decentralized bitcoin exchange initiative, which was also published by Twitter.
The relationship between Twitter CEO Jack Dorsey and cryptocurrencies is very close, especially bitcoin, which will play a key role in the company’s future, as he sees an opportunity for it to be integrated into the social network’s products and services, including new additions such as Tip jar and Super Follows.
During the company’s second-quarter investor meeting, Dorsey said bitcoin could help the company move faster in terms of product expansion.
In addition, the executive highlighted the environment of innovation around cryptocurrency, “especially now as we think about decentralizing social media more and offering more economic incentives. So I think it’s very important for Twitter and for Twitter shareholders that we continue to look at the space and invest aggressively in it.”
A spokesperson for the social network confirmed to TechCrunch that this is the first time Dorsey has spoken publicly about how Twitter could integrate bitcoin into its product line. “Because an open, internet-native standard is the way to go, our attention will eventually be on bitcoin.”
It is worth noting that Dorsey’s interest in cryptocurrencies is nothing new, as he has been an advocate of bitcoin for years. Recently, for example, he launched a $23.6 million bitcoin fund with Jay-Z and announced the construction of a digital wallet in Square, which will also be based on this cryptocurrency.
For the executive, the development of bitcoin is of the utmost importance. He has even described it as one of the three trends that will be key to the future of his social network, alongside artificial intelligence and decentralization, whose most relevant project is the Bluesky initiative, whose aim is for the platform to have less interference in deciding which users and communities have a voice on the internet.
It is worth mentioning that after a few weeks of falls, cryptocurrencies have seen significant recoveries, thanks to a series of positive events around these assets. A few days ago, the B Word took place, an event organized by the investment fund Ark Invest, with the participation of Elon Musk and Jack Dorsey.
On top of that, over the weekend it was revealed that Amazon is looking for an executive with blockchain experience to join its payment acceptance team.
The advert is aimed at someone capable of developing the company’s strategy around a digital currency, as well as putting together a roadmap for the work. It is also mentioned that whoever fills the position will work to present a plan that prioritizes the customer experience in payments.
In this regard, one of the most relevant points is the possibility that Amazon is considering accepting payments through cryptocurrencies on its e-commerce platform, something that would boost confidence among investors.
It is worth mentioning that bitcoin reached its highest level since mid-June, rising 13.5% to $39,105. The price of the cryptocurrency had fallen around 40% since reaching its peak in April.