- Elon Musk, South African Entrepreneur and billionaire known for both SpaceX and Tesla, has acquired Twitter from Jack Dorsey.
- The irony of this scenario is that among the greatest social media platforms is being sold to one of the greatest cryptocurrency fans.
- Now, one of the big questions remains that now Musk owned Twitter will offer Bitcoin and altcoins a stronger online existence.
Elon Musk have Twitter Ownership Now
Elon Musk has pledged that this acquisition will bring about a new degree of free speech that several users were desiring. Twitter, when Jack Dorsey was the owner, he had a poor habit of cutting out conservatives and either downright banning or suspending anyone with Republican or right-wing leanings (like My Pillow fame Mike Lindell).
During a testimony in front of Congress in 2018 — after United States Senate chose to crack down on social media platforms following Cambridge Analytica-Facebook scandal — Jack Dorsey asserted that conservative outings are not being organized at his hand, but because of algorithms of Twitter.
He stated that this was something the organization required to work on, tough Donald Trump was was banned permanently from Twitter back during 2021. Assumedly neither Jack Dorsey nor his counterparts did anything stop this pattern from continuing. Congress is also alleged for not taking robust actions regarding the situation.
What Does This Acquisition Mean For Bitcoin?
Naturally, one mammoth question remains is that, now that Tesla CEO Elon Musk has taken over the social media platform, whether this step will potentially offer Bitcoin and its virtual counterparts a robust online presence.
To be very fair Jack Dorsey — who has long remained a Bitcoin proponent and was even among the initial major Bitcoin institutional investors via his organization Square — has long pushed the Bitcoin agenda and sought to set up the crowned crypto asset as the leading virtual currency. As of this writing, several creators on Twitter can even be tipped and bag BTC rewards.
But Elon Musk, while also a digital asset advocate, seems to admire crypto is a distinct way than Jack Dorsey given that he has long pushed specific coins and his approach to Bitcoin remains more cautionary. For instance, while stopping his acceptance of currency for Tesla acquisition, Elon Musk stated that he will reconsider the scenario if the miners are willing to be crystal clear regarding their energy sources.
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