The Elon Musk Twitter deal is nearly at its finish. A Bloomberg report acknowledged that the plan was to finalize the deal by Fri. 28 October, transferring possession to the billionaire. As the social media platform is about to modify arms, it has raised a number of questions concerning Musk’s plans for it and its impacts. Since Twitter’s affect spans each sphere of on a regular basis life, might Musk’s acquisition affect the following US election?
Twitter’s Influence On US Election
Over the years, there have been a number of bans positioned on political figures by Twitter. One of probably the most notable is the ban of former US president Donald Trump – a transfer that noticed requires ‘freedom of free speech’ on the platform, which Elon Musk himself has highlighted.
Musk has beforehand made it recognized that when he took over the social media platform, he plans to ‘clear it up.’ His thought of a ‘clear up’ included making Twitter a platform that helps free speech. So it begs the query of how he intends to go about it.
Once Musk takes management of Twitter, he can have the ability to unban necessary political figures reminiscent of Donald Trump and Senator Ron Johnson. If the Tesla CEO does select to do that, it could have a profound affect on the following US elections because it reinstates the entry of those political figures to a large viewers as soon as extra. However, there is no such thing as a telling whether it is potential to additional affect past lifting the bans on political figures in pursuit of free speech.
The subsequent US election will occur in 2024, and by then — assuming the deal goes via as deliberate, Musk can have had management of the social media platform for a minimum of a 12 months. This is sufficient time for some vital modifications to the platform.
Musk, Bitcoin, And Social Media
Elon Musk has all the time been one of many largest evangelists of Bitcoin and cryptocurrencies on the whole. Back in 2021, his electrical car firm Tesla had briefly accepted Bitcoin funds earlier than halting it resulting from environmental considerations. However, Musk has not stopped exhibiting help for Bitcoin. Tesla nonetheless holds about $200 million price of BTC on its stability as of the time of this writing.
It is due to this fact not an extended shot to count on that the usage of Bitcoin may very well be promoted on Twitter as soon as Musk takes over. Twitter already has the “Tip Jar” function that permits customers to tip content material creators utilizing Bitcoin and different cryptos. Musk’s earlier thought was to increase this to incorporate Dogecoin. So the billionaire’s takeover of Twitter might result in a fair bigger presence of the crypto neighborhood on the platform. He might use his new place to advertise Bitcoin as he has finished previously.
As for the Twitter deal, Musk doesn’t appear too fazed concerning the court docket order to finish the deal by Oct. 28. “I believe it’s an asset that has simply form of languished for a very long time however has unimaginable potential,” Musk stated throughout a Tesla earnings name. “Although clearly myself and the opposite buyers are overpaying for Twitter proper now.”
Elon Musk visited the Twitter headquarters on Wednesday the place he stated he met “numerous cool individuals.” He is predicted to talk to Twitter staff on Friday about the way forward for the platform. While there are not any public particulars on what this may entail, there have been stories that he plans to chop 75% of the 7,500 staff, leaving a skeleton employees of two,000.
BTC recovers above $20,700 | Source: BTCUSD on TradingView.com
Featured picture from Ekonomist, chart from TradingView.com
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