After a controversial and widely publicized offer and rejection phase, the Twitter board has finally approved billionaire Elon Musk’s bid to acquire the microblogging platform for $44 billion. While the deal has been very controversial among members of the political twitter community, Musk’s reputation in the cryptocurrency community and his support for Dogecoin have also made the deal quite popular in the crypto twitter community.
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We are going to examine how the Twitter community has reacted to the news and how it could impact the cryptocurrency market. Let’s begin with what he must tweet after the news breaks that the board has approved his offer. The billionaire investor and CEO put out a picture from an interview he granted several days ago when he first made the offer:
He captioned the picture with a long emoji decorated yes to signify that he can now move on to effect these changes. The tweet now has 2.6 million likes, 63.8 000 quotes, and almost 400 000 retweets. How do you think Twitter will change under the billionaire?
Many prominent members of the crypto community have reacted to this and the other tweets that Musk has put out announcing the acquisition. There was a simple thank you tweet from Ark Invest founder and CEO Kathy Wood, who in a recent interview said she supports Musk’s bid to buy Twitter and make it a platform for free speech on Shane.
Willy, a bitcoin analyst who also tweeted about how Bitcoin could help make Twitter better for users, stated:
Michael Saylor, the co-founder and CEO of MicroStrategy, has also shared similar sentiments in his tweets and interviews. The American entrepreneur believes platforms like Facebook, YouTube, and Twitter can authenticate users by asking for Satoshi. However, Elon Musk is a staunch Dogecoin supporter and has previously tweeted about making it one of the payment options for giving out authentication blue marks on Twitter.
Willy Woo thinks otherwise. Here is another tweet from the analyst taking a jive at Dogecoin and for those who think Doge will fix this. I mean, literally, he accompanies his tweet with this meme.
Let’s examine some more tweets from Michael Saylor and Jack Mallers:
In one of his tweets, reads:
Here is a reply from Strike CEO Jack Mallers under Sailor’s tweet:
Maller’s accompanies the tweet with images showing the process and result. The process includes two steps:
According to Mallers, this will be an optimal product experience that allows:
On their part, the Doge community took the acquisition as great news. The popular mean coin rose from $0.12 on Monday to $0.16 on Tuesday. According to Google Analytics, online searches for Dogecoin increased by nearly 400% on the same day the acquisition was announced. The community could not sustain the bullish momentum amidst the overall bearish crypto market. Dogecoin has declined by almost seven percent over the past 24 hours and 1% since midnight, so we have the world’s first cryptocurrency and the world’s first mean coin going head-to-head while bitcoin has a larger community. Dogecoin has the support of Elon Musk, the new owner of Twitter. Do you think it will become a payment option on the platform?
[This article is a transcription of a video made by Savvy Finance]
Original video: https://youtu.be/f4MkX0kNl8o ]