The world’s richest man is encouraging us to open our virtual wallets, with Elon Musk claiming that the cryptocurrency industry is again set to boom.

The irony is that Mr. Musk founded X.com all the way back in 1999, with the American online bank eventually evolving into PayPal and earning him a cool $175.8 million when it was sold to eBay in 2002.

Elon Musk has stayed close to his ‘X’ branding, famously launching the likes of SpaceX, rebranding Twitter as X, and teasing the long-awaited arrival of X Money.

Ever since Musk took over Twitter in October 2022, there have been grand plans to turn it into more of an everything app that’s similar to Tencent’s WeChat.

Back in January 2025, former X CEO Linda Yaccarino suggested that X Money…