Friday with drinks and Elon Musk as the new owner of Twitter – will you attend?

Elon Musk

October 28 is the day Elon Musk officially takes over Twitter. The cryptocurrency community seems to be very excited about this. Is the joy justified and do you share it as well?

The beginning of a new Twitter era with Elon Musk

The saga regarding the acquisition of Twitter by billionaire Elon Musk seems to have found its finale. Recall that in the first half of this year Musk declared his intention to take over Twitter, signing a preliminary agreement on this occasion, which he later broke. This caused a stir between the commercial parties, which found its finale in court. Thus, the judge granted the request of the current owner of the platform and set a deadline for the transaction to be closed. Its date has just fallen on Friday.

It seems that Elon Musk has taken the set deadline with seriousness and is trying to make sure that it will indeed be the time for the final execution of the deal. Its total value is $44 billion, which translates into $54.2 per share.

There are also co-investors involved in the Twitter acquisition. They include venture capital firm Sequoia Capital, the Binance exchange and the Qatar Investment Authority. For the cryptocurrency community, the participation of an entity owned by Changpeng Zhao is particularly interesting here. This is because it may herald positive changes in the platform, directed precisely towards crypto.

Elon Musk’s priorities

Elon Musk has repeatedly commented on Twitter’s weaknesses and stressed that he would very much like them to be eliminated. One of them, for example, is the number of tweets related to cryptocurrency fraud. According to Musk, it should definitely decrease. So should the spam that has been flooding many accounts in recent months.

At one time he also came up with the idea of linking each post to a mandatory fee of 0.1 DOGE. However, the idea seemed absurd. Consequently, even Elon admitted that it was downright unworkable.

Twitter with a prototype cryptocurrency wallet?

Meanwhile, famous security researcher Jane Manchun Wong reported on October 25 that Twitter was working on a prototype cryptocurrency wallet that would include deposit and withdrawal of cryptocurrencies. The claim was not supported by any evidence. Nonetheless, the rumor is extremely interesting and indicative that the crypto-Twitter relationship, following Elon Musk’s acquisition of the platform, could grow significantly.

At the same time, Reuters reports that according to internal reports, Twitter is struggling to retain its most active users. We are talking about people who log on seven days a week and tweet a minimum of three times during that time. Interestingly, they account for only 10% of all monthly users. Nevertheless, their activity translates into traffic generation, which is as high as 90%.

The leading topic on the platform is expected to be cryptocurrencies during this time. Interest in news or sports drops significantly.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

Share this post

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email

More News

All articles loaded
No more articles to load

Knowledge Base

Terra (LUNA)

What is Terra (LUNA)?

This time we take a look at another project that dived deep into the hearts of investors. What exactly is…

What is Avalanche (AVAX)?

Avalanche (AVAX) is a blockchain, which conquers the hearts of programmers and at the same time is a great bargain…

What is Sandbox (SAND)?

In this material, we take a look at one of the fastest growing spaces in the metaverse family. We are…
All articles loaded
No more articles to load

Analyses

All articles loaded
No more articles to load

Knowledge Base

What is Terra (LUNA)?

This time we take a look at another project that dived deep into the hearts of investors. What exactly is Terra (LUNA)? Blockchain Terra (LUNA)…

What is Avalanche (AVAX)?

Avalanche (AVAX) is a blockchain, which conquers the hearts of programmers and at the same time is a great bargain for investors. What distinguishes the…

What are stablecoins and how can you use them?

In recent years, cryptocurrencies are experiencing a real “boom”! And not just for cryptocurrencies – the rise in popularity applies to blockchain technology in general.…

What is Sandbox (SAND)?

In this material, we take a look at one of the fastest growing spaces in the metaverse family. We are talking about Sandbox and SAND…

What is Polygon (MATIC)?

Another coin worth looking at is Polygon (MATIC). It is especially liked by many investors. So what makes its popularity constantly growing? Support for Ethereum…

What is Shiba Inu (SHIB)

Shiba Inu (SHIB) is one of the most sought-after coins on the market. This is evidenced by its dynamic rallies and global interest. But does…
All articles loaded
No more articles to load