Economist Nassim Taleb Says X Money Could Surpass Bitcoin in Key Areas

Nassim Taleb, the renowned author of 'The Black Swan,' has reignited the debate about the future of money. With the launch of X Money approaching, Taleb has publicly praised Elon Musk's initiative, comparing it favorably to Bitcoin. In his view, the project may embody a more pragmatic form of private currency. Taleb argues that X Money goes beyond being just a payment feature attached to a social network. He sees it as a concrete experiment in the concept of private money, an idea he has long advocated.

In his vision, the state should not monopolize the issuance of currency. Businesses should be able to offer their own payment tools, allowing the market to decide. This principle is known as currency competition. If multiple players develop their own systems, users will naturally choose the option that offers the best balance between stability, accessibility, and everyday practicality.

In this competition, X Money has a significant advantage. The service relies on a large user base, as well as its financial subsidiary, X Payments, which has obtained operating licenses in more than 40 U.S. states. This foundation may allow it to capture the market faster than any fintech company starting from scratch. Taleb believes that a true currency must allow prices to be fixed and facilitate everyday transactions. Bitcoin, due to its dramatic price fluctuations, struggles to fulfill this role. He argues that Bitcoin has gradually evolved into a speculative asset rather than a currency for practical use. In comparison, X Money seems to focus more on practical applications. Initial information suggests that it includes several anticipated features: If these elements are confirmed at launch, X Money will be more like a hybrid financial account than a simple crypto wallet, somewhere between a social network, fintech, and traditional banking.