Elon Musk’s X Removes Bitcoin Hashmoji, Leaving the Community Abuzz

The community on X is abuzz following the removal of the Bitcoin hashmoji from Elon Musk’s platform, a change confirmed by a member of the X team.

### Bitcoin Hashmoji No Longer Available

A user known as “DogeDesigner,” who is part of the DOGE team and considered an insider on X, revealed that the Bitcoin hashmoji is no longer functional. Only the Bitcoin hashtag remains. The reasoning behind this unexpected decision has not been clarified, leading to considerable speculation within the crypto community about Musk’s motives for this removal, which was originally introduced by former CEO Jack Dorsey, a known Bitcoiner.

Several prominent figures in the Bitcoin community have weighed in on the removal, including Samson Mow, the CEO of JAN3, early Bitcoin adopter Jeremy Davinci, and trader @TheMoonCarl. Notably, it appears that hashmojis for other cryptocurrencies have also been eliminated from the platform.

### Tesla’s Bitcoin Holdings

As of April this year, Tesla, the electric vehicle company headed by Musk, still possesses a significant amount of Bitcoin, valued at approximately $184 million, according to their Q1 2024 earnings report. In February 2021, Tesla announced the purchase of $1.5 billion in Bitcoin and even began accepting it as payment for its vehicles, which helped drive Bitcoin prices to historic highs. However, concerns regarding the environmental impact of proof-of-work mining led Musk to announce the cessation of Bitcoin payments just a few months later.

Despite this, Tesla maintained its Bitcoin holdings for a time before gradually liquidating parts of its stash. Currently, the remaining value is the $184 million mentioned earlier.

### No Cryptocurrency Launch Planned

Recently, X has been positioning itself for potential internal payments, securing necessary licenses across various U.S. states. However, Musk has been clear that none of his companies, including X, will be launching their own cryptocurrency, even in light of these preparations.