[Bitcoin Now] Staying at 53 Million Won... Twitter Introduces Cryptocurrency Donation Feature

Twitter CEO Jack Dorsey Aims to Expand Cryptocurrency Market

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The leading cryptocurrency Bitcoin is hesitating around the 53 million KRW mark. Meanwhile, Twitter announced that it will introduce a feature to support influencers using cryptocurrencies such as Bitcoin.

According to the domestic cryptocurrency exchange Upbit, as of 6:13 PM on the 24th, Bitcoin recorded 53.26 million KRW, down 2.11% compared to the previous day. It fell to 52.93 million KRW at 2:25 PM but then slightly rebounded.

Other altcoins are also on a downward trend. At the same time, Ethereum recorded 3.6 million KRW, down 5.69% compared to the previous day. Although it rebounded 10.32% on the 22nd, it is now hesitating again. Other altcoins such as Civic, OmiseGO, and WAX also fell by 9.33%, 8.04%, and 8.02% respectively compared to the previous day.

Twitter has moved to expand its presence in the cryptocurrency market. On the 23rd (local time), according to cryptocurrency specialized media Cointelegraph, Twitter officially announced the introduction of the ‘Super Follower’ feature that allows iPhone users worldwide to support content creators through cryptocurrencies such as Bitcoin and Litecoin. This is similar to the economic support method for content creators like the star balloon system on the domestic personal broadcasting platform AfreecaTV. Twitter plans to introduce this feature for Android smartphone users within a few weeks.

Twitter expects that the cryptocurrency support feature will enable users to generate economic benefits. Esther Crawford, Twitter’s Head of Product Management, said, “We hope all Twitter users can access pathways to earn revenue,” adding, “Cryptocurrencies will encourage more people to participate in the economy and allow money to be sent across borders without major restrictions.”

Twitter’s CEO Jack Dorsey is a prominent cryptocurrency advocate. On the 28th of last month, he expressed interest in expanding the cryptocurrency market by announcing plans to create an open platform for decentralized cryptocurrency exchanges. In addition, he personally attempted Bitcoin mining through Compass Mining, a cryptocurrency mining equipment manufacturer.