The Elon Musk Twitter deal is sort of 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 change palms, it has raised a number of questions relating to 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 subsequent 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 essentially 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 ‘clean it up.’ His concept of a ‘clean 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 could have the facility to unban essential political figures equivalent to Donald Trump and Senator Ron Johnson. If the Tesla CEO does select to do that, it could have a profound affect on the subsequent US elections because it reinstates the entry of those political figures to a large viewers as soon as extra. However, there isn’t any telling whether it is attainable 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 by way of as deliberate, Musk could have had management of the social media platform for at the least a yr. This is sufficient time for some important adjustments to the platform.
Musk, Bitcoin, And Social Media
Elon Musk has at all times been one of many largest evangelists of Bitcoin and cryptocurrencies generally. 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 assist for Bitcoin. Tesla nonetheless holds about $200 million value of BTC on its stability as of the time of this writing.
It is subsequently not an extended shot to anticipate that using Bitcoin may very well be promoted on Twitter as soon as Musk takes over. Twitter already has the “Tip Jar” characteristic that enables customers to tip content material creators utilizing Bitcoin and different cryptos. Musk’s earlier concept was to increase this to incorporate Dogecoin. So the billionaire’s takeover of Twitter might result in a good bigger presence of the crypto group on the platform. He might use his new place to advertise Bitcoin as he has finished prior to now.
As for the Twitter deal, Musk doesn’t appear too fazed concerning the courtroom order to finish the deal by Oct. 28. “I think it’s an asset that has just sort of languished for a long time but has incredible potential,” Musk stated throughout a Tesla earnings name. “Although obviously myself and the other investors are overpaying for Twitter right now.”
Elon Musk visited the Twitter headquarters on Wednesday the place he stated he met “a lot of cool people.” He is anticipated to talk to Twitter employees on Friday about the way forward for the platform. While there aren’t any public particulars on what this could entail, there have been reviews that he plans to chop 75% of the 7,500 employees, leaving a skeleton workers 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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