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Elon Musk buys X.com domain because he's Elon Musk

The Tesla CEO purchased the domain from PayPal, but has no plans to put it to use in the near term.

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Elon Musk is once again the owner of the X.com domain. 

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For Elon Musk, X marks the spot. Or the domain. 

The CEO of Tesla and SpaceX confirmed in a tweet that he had purchased the X.com domain from PayPal. Musk said he didn't have any plans for the domain, but that it had "great sentimental value to me."

The X.com domain name was originally a financial services company started by Musk, which was the predecessor to PayPal. While PayPal went on to be acquired by eBay (and then split off again), Musk went off to work on a number of different projects ranging from electric cars to artificial intelligence and space exploration. 

PayPal confirmed the sale. 

"We are delighted to sell the domain x.com back to its previous owner, Elon Musk," said a spokeswoman.

Update, 8:58 a.m. PT: To include a response from PayPal.