Bitcoin Magnates Applaud Musk’s Twitter Experimentation
United States – Cryptocurrency kings and Bitcoin billionaires cheer on Elon Musk for the experimentation of Twitter, showing financial and ideological interests.
Some of the richest businessmen in cryptocurrency publicly showed their support for Elon Musk after taking over Twitter, even though some people vilified him for his takeover. These billionaires supported Musk, stating how their financial and ideological interests align.
2022 was a challenging year for digital asset billionaires, especially after witnessing their net worth drop during the spring and summer sell-off. However, the takeover of Twitter put smiles on their faces, especially when Musk was the one who took over.
Musk promised to give “free speech” on Twitter, and libertarian-learning advisers in the crypto industry saw a kindred spirit. The on-and-off enthusiasm of Musk once again when it comes to cryptocurrency made way for some people to be hopeful that Twitter will incorporate other elements of “Web3” or establish cryptocurrency payment features.
Tim Draper, a Bitcoin investor, and a business capitalist, thinks Musk is amazing and they are fortunate to have him.
Draper gets dropped off the billionaire ranks this year when the price of Bitcoin tumbled. He thinks Musk wants to save Earth with Tesla, assure that people can go through SpaceX, and let everybody have free speech. He also said that Musk has been doing these things successfully.
Changpeng Zhao, Binance’s CEO and founder, is another one of the biggest supporters of Musk. The cryptocurrency exchange invested $500 million to support Musk in taking Twitter privately at a high valuation of $44 billion. Musk agreed to do it because he saw a chance.
According to the CZ, the free speech platform of Twitter is important across the globe. He stated that the company wants to support strong businessmen like Musk.
As per Owen Lau, an equity expert at Oppenheimer & Co., the investment of Binance provides CZ a head-start on persuading the future crypto ventures of Twitter. He said that CZ has the advantage.
Binance faced many probes from different authorities in the United States about accusations of starting money laundering. CZ should have provided specifics on how Binance intends to collaborate with Twitter. Binance and CZ didn’t leave any further comments.
Coinbase’s CEO, Brian Armstrong, is also one of the fans of its vision of Musk. He tweeted that purchasing Twitter is a win for free speech, and it will change the path of the world more than others can realize. He also stated that Twitter is challenging the culture and media in numerous ways.
Michael Saylor, the founder of MicroStrategy and an investor in Bitcoin, stated that if someone doesn’t pay for the product, that person is the product. He also tweeted a photo of Musk releasing the Twitter bird from its cage, which a lot retweeted over 7,000 times.