Elon Musk recently bought Twitter-a social media company- for billions of dollars. Elon is seen as a savior-like figure for free speech to many people who use social media. He recently tweeted, “I hope that even my worst critics remain on Twitter, because that is what free speech means”. Musk is not the first billionaire to own a social media company. In fact, there are several wealthy people who own media and social media platforms such as the Washington Post, Facebook, Google and Bloomberg.
Musk however, is now the richest person in the world and is thriving through the success of his other companies. One can assume his experience with Starlink and Tesla will only help him decrease participation in other social media platforms like Truth Social or Gab and increase participation in Twitter, especially since twitter is already an established platform. While a lot of Americans are putting trust in Musk, it is important to remember that based on history, Twitter will have to make monumental changes to continue its dominance as a social media platform.
Musk buying Twitter will bring more truthful information to people about bitcoin, blockchains and other cryptocurrencies. Previously, many accounts on twitter were shadowbanned, meaning that their videos and informative posts were suppressed, causing a lack of engagement with their content. Since Musk acquired Twitter, several accounts have had a steady increase in followers within 24 hours of his purchase. For example,
@TuckerCarlson +62,083
@JoeRogan +63,313
@DonaldJTrumpJr +87,296
@tedcruz +51,405.
There has been alot of misinformation spread about Bitcoin and it’s energy usage as well as cryptocurrency taxes. Hopefully Twitter will be a home for the truth about cryptocurrency to spread. Do I think Dogecoin will move to $0.50 any time soon? No, not at all! I also think Bitclout is still a stronger social media platform in the name of free speech than what Twitter will become under Elon Musk. However, many people believe that Elon Musk is great for free speech and free speech is great for the growth of understanding concepts such as Bitcoin and the blockchain.
