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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 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 identified that when he took over the social media platform, he plans to ‘clean it up.’ His thought 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 can have the ability to unban essential political figures corresponding to Donald Trump and Senator Ron Johnson. If the Tesla CEO does select to do that, it might 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 isn’t a 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 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 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 normally. Back in 2021, his electrical automobile firm Tesla had briefly accepted Bitcoin funds earlier than halting it as a result of environmental considerations. However, Musk has not stopped displaying assist 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 could possibly 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 thought was to increase this to incorporate Dogecoin. So the billionaire’s takeover of Twitter might result in a good bigger presence of the crypto neighborhood on the platform. He might use his new place to advertise Bitcoin as he has accomplished prior to now.

As for the Twitter deal, Musk doesn’t appear too fazed in regards to 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 predicted to talk to Twitter employees on Friday about the way forward for the platform. While there are not any public particulars on what this is able to entail, there have been stories that he plans to chop 75% of the 7,500 employees, 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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