Elon Musk is finally expected to acquire Twitter this weekend. For members of the crypto sphere, this event could bring about major changes.
Elon Musk would finally be able to buy Twitter
Elon Musk is about to make one of the most significant signings of his career. After having been behind the Twitter management team for several months and having suffered some setbacks, the billionaire will finally be able to get his hands on the social network with the blue bird. It seems that, this time, his insistence was his best weapon. As the negotiations wrap up, it also appears that his desire to get rid of the majority of current Twitter employees hasn’t ultimately dampened those in charge.
According to Bloomberg, Tesla’s CEO could have finally finalized his purchase by negotiating the missing money with his bankers. The latter would have agreed to lend him $ 13 billion to close the deal. According to Elon Musk’s relatives, next Friday he will be able to become the owner of Twitter.
Furthermore, the South African billionaire would not have forgotten his promise to insert cryptocurrencies into the social network system. Starting with Binance’s involvement in its purchase since, as already happened in the first attempt, its CEO Changpeng Zhao would have had to put his hand to the portfolio to help Elon Musk provide the necessary money for the acquisition. .
When asked about this initiative, CZ indicated that he had not changed his mind. As for his motivations, it is not clear whether they are due to the friendship that binds him to Tesla CEO or more to his promise to carry on cryptocurrencies once he becomes the master of the platform.
In any case, time will tell if the wind of renewal so promised by Elon Musk will have been able to make the social network as attractive as in its first hour. Indeed, its most active users would increasingly abandon the platform. A phenomenon that could be explained by the attraction of new possibilities such as TikTok but also by the many political and social scandals that have been played out on Twitter. The arrival of crypto on his site could still generate new registrations in the future.
What about the use of cryptocurrencies on the platform?
It seems that the use of cryptocurrencies on Twitter is more a reality than ever. In fact, the team behind the social network would work on creating a crypto wallet that will be usable directly on the platform. The news was announced by blogger Jane Manchun Wong, who often stood out for leaking information about new technologies that turned out to be true.
The latter has not provided further information on his sources although these may be in a public code and Twitter has not yet officially confirmed the news. Either way, this statement gave the Dogecoin community some hope. The price of the canine token in fact recorded a small peak around 24 October, a phenomenon that still occurs today following the confirmation of the purchase of Elon Musk.
DOGE is also benefiting from the global cryptocurrency rally which, coupled with the strong return of Elon Musk, is allowing the coin to skyrocket. Time will tell if the phenomenon will have been temporary as usual or if the Dogecoin community will have found a concrete use for its token.
All information on our website is published in good faith and for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at your own risk.