How Elon Musk’s Twitter Takeover is Good for Crypto

As of October 28th, one of the most influential individuals in the crypto space has officially taken over Twitter and even though Elon Musk’s reasoning for buying twitter was: “The reason I acquired Twitter is because it is important to the future of civilisation to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence.” He added: “That is why I bought Twitter. Of course, it is hard to say how true this statement is, many people feel that this move is a good thing and that platforms such as Twitter shouldn’t lean towards the left or the right, such platforms shouldn’t have censorship of opinions.

Aside from all the layoffs that Musk made on his first official visit to Twitter there are some key events which people have missed which will almost definitely work in favor of the crypto industry. To start, Binance has pledged $500 Million to support this deal alongside 18 other investors such as Sequoia fund which is a crypto investment firm. This shows that the crypto industry supports this and that Elon Musk’s ties with the industry, which should have a domino effect of crypto support, marketing and simply bringing in new enthusiasts to the industry.

Twitter Has 396.5 Million Users Globally and has become a key social media app for Blockchain start ups to promote their project and keep their community up-to-date with their most recent developments. What many are wondering now is how intertwined the platform will become with crypto. As many remember, Musk is a strong supporter of Dogecoin, a P.O.W coin which provides the security of BTC while offering much faster TX times. As mentioned by many others this can be a great coin which is used solely for payments. Something to consider, will musk bring Dogecoin payments to Twitter or will he integrate a variety of coins and tokens into the platform?