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Elon Musk and Twitter have been recently the most used terms and it’s quite effective as both are quite influential in their own terms
Since the news of ‘Elon Musk will acquire Twitter’ broke out, there has been a lot of speculation and predictions regarding numerous issues and related matters to both the entities has flooded all over. Tesla CEO and multi billionaire entrepreneur Elon Musk is to buy social media giant Twitter for about $43.4 billion. Both have direct relation to cryptocurrencies and digital assets and this instance also did the same and crypto market reacted over this. Along With all this, many have come with their opinions that from there, where Twitter and crypto could lead after this?
Musk has aimed to launch several new features, enhance trust by making the algorithm open source, and authenticate all humans by defeating spam bots.
The implications of this deal could have quite a big impact on the stock and crypto market in terms of appreciation in price of both. It’s going to be almost a year since Elon Musk has announced that his electric vehicle manufacturers company, Tesla, would accept payments in bitcoin (BTC). It’s the same time since then the market is going through a bearish trend.
While taking so much leverage to build a business again that could be taken as a sign all over the market that the cycle isn’t finished yet. However, having this much bearish sentiment, a situation where the market could not see its coming and short positions, it would need only a spark to ignore yet another bull impulse.
Now whom we are talking about is Elon Musk, CEO of multi billion dollar companies like Tesla and SpaceX, richest man in the world and famous for his influence and tance on crypto whose movements are enough to create the trends or turn off the ongoing trends. He has been using the platform of Twitter for quite some time to pump the prices of digital assets. He made efforts to bring the meme coin to go up to the mark of $1. Musk had helped bitcoin to push from $30K to way beyond $69K in a matter of a couple of months.
Also Read: Is it Elon Musk Twitter buying effect that Dogecoin jumped back into top ten crypto?
Elon Musk tweeted on Twitter, the platform that he now owns himself and said that Twitter has huge potential and as he looks forward to working with the company and its community of users to unlock it. And as it goes, it’s clear that now Musk will buy Twitter for around $54.20 per share with the help of getting backed by Morgan Stanley.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
