{"id":426837,"date":"2022-04-05T14:30:00","date_gmt":"2022-04-05T11:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/what-elon-musks-investment-could-mean-for-twitters-crypto-plans\/"},"modified":"2022-04-05T14:30:00","modified_gmt":"2022-04-05T11:30:00","slug":"what-elon-musks-investment-could-mean-for-twitters-crypto-plans","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/what-elon-musks-investment-could-mean-for-twitters-crypto-plans\/","title":{"rendered":"# What Elon Musk\u2019s investment could mean for Twitter\u2019s crypto plans"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a41caf207120\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a41caf207120\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/what-elon-musks-investment-could-mean-for-twitters-crypto-plans\/#%E2%80%9D_What_Elon_Musks_investment_could_mean_for_Twitters_crypto_plans_%E2%80%9C\" >&#8221; What Elon Musk\u2019s investment could mean for Twitter\u2019s crypto plans &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_What_Elon_Musks_investment_could_mean_for_Twitters_crypto_plans_%E2%80%9C\"><\/span>&#8221; What Elon Musk\u2019s investment could mean for Twitter\u2019s crypto plans &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMThkMjYzMTMtOGU2Yi00MGQyLWJkOGUtYzhhNTFlZDU4NTI3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Whenever Elon Musk does something on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>, the crypto market moves in response. Publishing a tweet, changing his profile picture or adding \u201c#Bitcoin\u201d on his bio affects the markets \u2014 the latter even more so, sending Bitcoin (BTC) price up by 20%. This is why the community lies in anticipation of what Musk\u2018s Twitter investment could mean for the crypto industry.<\/p>\n<p>Recent filings show that Tesla CEO Elon Musk <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1418091\/000110465922041911\/tm2211482d1_sc13g.htm\">purchased<\/a> a 9.2% stake on Twitter. This <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/amp\/articles\/elon-musk-is-suddenly-twitters-largest-shareholder-heres-a-list-of-the-top-10-holders-11649100390\">makes<\/a> him the largest stakeholder in the platform. The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> instantly pumped Twitter shares by more than 22% in early trading and sent Dogecoin (DOGE) near its two-month highs.<\/p>\n<p>Ken Li, investment director at Binance Labs, told Cointelegraph that Musk\u2019s investment can help push the platform\u2019s crypto initiatives forward and even lead to the integration of DOGE within the platform.<\/p>\n<p>According to Li, \u201cElon Musk\u2018s investment in Twitter could help to increase the acceleration of Twitter\u2018s crypto adoption. It remains to be seen whether Twitter will begin adopting Elon\u2018s beloved Dogecoin moving forward.\u201d He also explained that: <\/p>\n<blockquote><p>\u201cElon has always been very public about the concept of a more decentralized and censorship-resistant social media platform, and this is something that blockchain and Web3 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> can help enable.\u201d\u00a0<\/p><\/blockquote>\n<p>Apart from Musk using this event to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1511143607385874434\">tweet<\/a>\u00a0a funny poll, there was no official announcement regarding the billionaire\u2019s plans for the company. However, given the history of both the Tesla CEO and the social media company with crypto, one feasible hypothesis would be that the event will further Twitter\u2019s exploration of more crypto and blockchain-based features.<\/p>\n<p>Musk\u2019s love-hate relationship with crypto is not a secret. In February 2021, a filing showed that Tesla purchased 1.5 billion BTC. In March 2021, the celebrity businessman started a frenzy when he announced Tesla\u2018s plans to accept BTC as a means of payment for Tesla cars. However, the market tumbled down a few months later after Musk revealed that the firm had dropped the plan because of the alleged environmental impact of Bitcoin mining\u2018s energy usage.<\/p>\n<p>Apart from BTC, Elon Musk has been affiliated with DOGE. Because of his love of memes, Musk\u2018s DOGE tweets have been linked to the asset\u2018s price soaring, leaving musk to be accused of price manipulation. The billionaire also declared later in 2021 that DOGE is better than BTC when it comes to payments. In January 2022, Tesla started accepting DOGE as payment for its merchandise.\u00a0<\/p>\n<p>Despite this, official records show that Musk\u2019s electric car-making firm held $2 billion in BTC as of late 2021. A portion of Tesla\u2018s BTC holdings was also sold in March 2021 to test the liquidity of such volume. This created realized gains of at least $128 million.\u00a0<\/p>\n<p>On the other hand, Twitter has also been dabbling into blockchain-based technologies such as nonfungible tokens (NFTs). Back in January 2022, Twitter opened support for NFT avatars for subscribers of Twitter Blue, a paid sub<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">script<\/a>ion service that costs $2.99 per month. However, Musk responded to the function negatively.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Twitter is spending engineering resources on this bs while crypto scammers are throwing a spambot block party in every thread!?<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1484456594775678976?ref_src=twsrc%5Etfw\">January 21, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Crypto vs. physical: Musk-Saylor inflation debate boils down to scarcity<\/em><\/strong> <\/p>\n<p>Apart from this, Twitter also supports tipping with crypto through its tipping jar function. Back in September 2021, the platform enabled BTC tipping, allowing users to use third-party apps to receive tips. In February 2022, the platform added Ether (ETH) to its tipping payment options.\u00a0<\/p>\n<p>Because of his tweet, the community may <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1484456594775678976\">speculate<\/a> that Musk will first push a fix for the problem of crypto scammers spamming threads on Twitter. Bitcoin advocate Michael Saylor offered a suggestion to fix this issue:\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Twitter can solve the problem of scammers &amp; spambots if they allow real humans to post ~50,000 sats ($20) via Lightning\u26a1\ufe0f&amp; get verified w\/an Orange Check. Then we can limit comments\/DMs to verified accounts. Bad actors forfeit their security deposit &amp; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Twitter?ref_src=twsrc%5Etfw\">@Twitter<\/a> monetizes malice.<\/p>\n<p>\u2014 Michael Saylor\u26a1\ufe0f (@saylor) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/saylor\/status\/1484546928704696321?ref_src=twsrc%5Etfw\">January 21, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>\u201cCrypto Twitter\u201d is a term for a reason. With its fast-paced flow and rich interaction options, the once known as a \u201cmicroblogging\u201d platform turned into the go-to debate hub for the crypto community. So, it\u2019s natural for thought leaders (with deep pockets) to get some part of it.\u00a0<\/p>\n<p>Following Musk\u2019s purchase, Twitter now has at least two crypto celebrities among its shareholders, including the former Twitter CEO Jack Dorsey. There is almost no limit to the expansion of that roster.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/what-elon-musk-s-investment-could-mean-for-twitter-s-crypto-plans\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; What Elon Musk\u2019s investment could mean for Twitter\u2019s crypto plans &#8220; Whenever Elon Musk does something on Twitter, the crypto market moves in response. Publishing a tweet, changing his profile picture or adding \u201c#Bitcoin\u201d on his bio affects the markets \u2014 the latter even more so, sending Bitcoin (BTC) price up by 20%. This&#8230;<\/p>\n","protected":false},"author":1,"featured_media":426838,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMThkMjYzMTMtOGU2Yi00MGQyLWJkOGUtYzhhNTFlZDU4NTI3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74894,74355,39394,10401],"class_list":["post-426837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-blockchain","tag-adoption","tag-elon-musk","tag-twitter"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/426837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=426837"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/426837\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/426838"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=426837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=426837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=426837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}