What we learned from Musk’s first year of ownership of X (Twitter).

Last year on October 27, technology billionaire Elon Musk made an interesting purchase. He spent $44 billion to buy microblogging platform Twitter for $44 billion and has a vision of turning it into an “everything app.”

A year later, BeInCrypto examines the changes in the platform, including the changes initiated by the billionaire and other changes.

Rebranding and payment introduction

Musk made a big change to Twitter by implementing a subscription model and naming the platform ‘X'. This decision has sparked mixed reactions from crypto users who can now generate income from their posts on the platform.

Before Musk found the platform, the cryptocurrency community speculated that the billionaire would integrate the native crypto token into the social media platform.

However, Musk has ruled out any possibility that the site could launch any cryptocurrency token, saying it will “never” launch an X token.

The ‘everything app' dream

Despite killing the dream of a token startup, Musk is focused on making X an all-in-one app. According to Musk, the app will soon be integrated to include a full range of financial services.

CEO Linda Yaccarino also described X as the future of communication, including audio, video, messaging, payments and banking. She said:

“There is no limit to this change. X will be a platform that can deliver, well…. Everything. Elon Musk and I look forward to working with our teams and each of our partners to bring X to the world.

Bot problems persist.

A year after Musk's acquisition, bots remain an ongoing issue. It is worth noting that the tech billionaire voiced his frustration with this problem before taking power.

To combat these bots, X has introduced various subscription models for its users. The most recent development introduces a $1 subscription model, aptly named “Not A Bot,” currently being tested in New Zealand and the Philippines.

However, while the platform is grappling with these issues, the move has not stopped the flood of bots and spammers.

Meanwhile, the forum maintains its fort as a go-to hub for crypto-related discussions. Influencers, CEOs, politicians and regulators continue to use X as a means to join the crypto community.

Despite the dwindling number of users, its reputation as a pro-crypto platform still stands.

Musk's tweet continues to move the market.

Before Musk bought Twitter, he was known for his frequent discussions about meme coins. His posts have had a significant impact on the value of cryptocurrencies such as Dogecoin and Floki Inu.

That continued to deepen ownership of the platform in February, jokingly referring to Floki the dog as the new CEO of Twitter (X).