Elon bids to buy Twitter, is this a fair decision?

Recently every news channel was covering the offer made by Elon Musk, CEO of Tesla, to buy the social media company Twitter. As per the data filed by the US Securities and Exchange Commission, “an offer of $54.20 was made by musk which is a 38% premium over the price of the stock, a day before the investment. The primary plan of Musk is to make the company private to execute the much-needed changes. Elon Musk has been honest about his dismay at Twitter’s failure to adhere to principles of free speech.

After the offer made by Elon Musk to buy Twitter went public, Justin Sun (Founder: Tron Blockchain) made a whopping offer of $60 a share for the company. As soon as this offer broke the shares of Twitter surged by more than 12%. Reuters reported that Twitter was seriously mulling over the offer put forward by Musk, in a town hall meeting with their employees.

Musk holds a stake of 9.2% in Twitter. It was recently announced by Musk that he would be joining the Board of Directors of the company but later this was denied by CEO Parag Agrawal.

In a world running majorly by crypto and decentralized social media apps, Twitter runs behind because of its centralized facet. A decentralized app will be useful and cheap to use with the help of blockchains like Point Network, Monero, Avalanche, etc. Twitter has a huge effect on the crypto world as after the investment made by Musk dogecoin rose 11%. This announcement made ripples in the decentralized world. There is no denying the fact that Twitter has recently been made crypto-friendly with its ability to send tips in bitcoin. This facility was recently extended to Ethereum. At this point, Twitter can make the app more useful by strategically using the blockchain of point network or avalanche.

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