Everyone will soon be able to tip bitcoin on Twitter TWTR, +3.79%, making the social-media platform one of the first major significant companies to offer such a payment feature on its platform.
MicroStrategy MSTR, +2.11% CEO Michael Saylor shared a tweet of the hoodie-wearing founder of Strike, Jack Mallers, who illustrated at least one of the possibilities for bitcoin tipping on Twitter: remittance payments. “Why would anyone ever use Western Union WU, +1.10% again? When you take one of the world’s largest social internet networks and you combine it with the world’s best open monetary networks, Twitter accidentally becomes one of the best remitting experiences in the world,” Mallers said.
Strike, the Chicago-based startup that Mallers launched along with its parent company Zap Technologies, also is known for helping El Salvador adopt bitcoin. But overall, tipping in bitcoin seems unlikely to gain much traction on Twitter outside of remittance transfers. Bitcoin, the world’s No. 1 crypto by market value, has come to be seen as a store of value, and has gained notoriety for its gut-wrenching price swings.
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