Elon Musk's X Removes Bitcoin Hashmoji, Community Stunned

The Bitcoin community is buzzing on X, wondering what has made Elon Musk’s X platform remove the Bitcoin hashmoji after its absence was noticed. Its removal was then confirmed by an X team member.

X no longer shows Bitcoin hashmoji

X user “DogeDesigner” (@cb_doge), who is a member of the DOGE team and an X insider, shared that the Bitcoin hashmoji does not work on X any more. Only the Bitcoin hashtag is left.

He did not provide any explanation for this unexpected decision, leaving the crypto community on X puzzled. Heated discussions have been rising about what made Elon Musk order the removal of the hashmoji of the world’s flagship cryptocurrency, which was added by the Twitter cofounder and its former CEO Bitcoiner Jack Dorsey.

Several Bitcoin influencers have commented on that removal, including JAN3 boss Samson Mow, an early Bitcoin adopter, BTC millionaire Jeremy Davinci and trader @TheMoonCarl.

It seems, however, that it is not only Bitcoin but hashmojis for all other cryptos have been removed from X.

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Tesla still holds Bitcoin

As reported by U.Today, as of April this year, Elon Musk’s electric car producer, Tesla, still holds a large Bitcoin stash – there is $184 million worth of BTC on the company’s balance sheet, according to Tesla’s Q1, 2024, earnings report.

In February 2021, the company announced purchasing $1.5 billion in Bitcoin. After that, Musk announced that Tesla started to accept Bitcoin payments for the electric automobiles it produces. This pushed the world’s largest crypto to a historic price peak above the $60,000 level in April.

However, in the same month, Musk suddenly announced that Tesla stopped accepting Bitcoin over environmental concerns about proof-of-work-based BTC mining.

Tesla continued holding Bitcoin on its balance sheet, though, but then it began to gradually sell its BTC stash. The aforementioned $184 million worth of Bitcoin is all that is left of it by now.

No X coin to be launched, per Musk

Recently, X has been preparing to launch internal payments and has been securing the necessary licenses in various U.S. states.

While one may think that Elon Musk could perhaps be clearing space and removing the hashmojis of Bitcoin and other cryptocurrencies, he has made it clear several times that none of his companies, including X, are going to launch their own cryptocurrency.