BTC hits $45k as Twitter announces Bitcoin tipping

24 Sep 2021

Bitcoin reached four-day highs of $45,000 on Friday as the market absorbed news that Twitter has enabled Bitcoin tipping.

The social networking giant stated users will now be able to tip other users using cryptocurrencies such as Bitcoin, due to the integration of payment app Strike on the Lightning network that enables low-cost BTC transactions.

According to CoinTelegraph Markets Pro and TradingView, BTC/USD hit $45,180 on Bitstamp. The world’s largest cryptocurrency by market cap had fought to overcome resistance at $44,000, yet the announcement by Twitter fuelled the momentum, Cointelegraph reports.

On Thursday, Twitter launched the initial phase of the tipping feature through Strike for iOS users. Strike affirmed that other interfaces would soon follow.

Other tipping partners are also set to be introduced within the next few weeks. 

“What the internet did for communication, Bitcoin and the Lightning Network is doing for money,” according to a blog post by CEO Jack Mallers. He added: “Today, we take a giant leap forward in growing global interoperability with the world’s first open monetary network, Bitcoin. Today, we continue our march towards migrating the world onto the singular monetary standard, Bitcoin. Today, we launch the Strike API, making existing payments everywhere in the world cheaper and faster, unlocking a whole new set of payment use cases never seen before.” 

Esther Crawford, product lead for creator monetisation at Twitter commented: "We believe we can continue to incentivise the types of conversations that people want to see.”

The social networking site is also planning to support authentication for NFTs (non-fungible tokens) which are digital assets such as images or videos that exist on a blockchain, Reuters reports.

This will allow users to track and display their NFT ownership on Twitter, the company stated.

Twitter stock immediately rose 4% following yesterday’s close.