Elon buys Twitter stock...could it mean anything for Doge?

in Project HOPE3 months ago


Over the past couple of years, it has become quite normal to see the cult-like figure, Elon Musk, making the headlines for his incredible achievements, huge wealth, and bold speech. I doubt there is anyone on earth right now who can surpass his fame and influence.
And last week, Elon, in all his glory, ran a poll along with some stormy tweets that turned social media upside down.
The poll was basically asking if Twitter really adheres to the values of free speech, to which more than 70% of people answered NO!


After the poll concluded, Elon asked his followers what they thought he should do, and this led to all sorts of recommendations from starting up a new social media platform to acquiring Twitter and transforming it into an open-source and censorship-resistant platform.

The crazy thing was not only the great number of people participating but also that Elon was responding and engaging seriously with many of his follower's feedback and comments.
One of the followers asked if Elon is considering launching his own social media platform and he responded "Am giving serious thought to this". Many others suggested that Elon should buy Twitter, or a large part of it, and then try to adjust its rules on free speech.

I spent quite a bit of time reading most of the comments and replies because I felt that something big was going to come out, and I was right because only a few days after, news circulated that Elon Musk had bought a whopping 9.2% stake in Twitter on 14 March, which easily makes him the largest shareholder and even 4 times larger than Twitter founder Jack Dorsey himself who has a 2.25% stake.
The funny thing is that Elon had bought such massive stake just 12 days before he criticized Twitter for "failing to adhere to free speech principles".
So, what gives? Could it be the first step to an outright acquisition of Twitter? Or is he planning to ask to join Twitter’s board?
It's all speculation but nothing seems too far for this guy!

Why has he bought stocks on Twitter rather than starting a new platform?

I think the simple answer to this is that launching a successful social platform requires huge capital, a highly trained team, very long time, more than excellent luck... among many other factors. Despite how influential and famous Elon is, it would be quite a daring adventure to start a new social media from the ground up and try to rival long-established players like Facebook and Twitter. Let's not forget the great number of companies that tried and failed. And there is certainly a reason why almost every alt-social network launched in recent years such as Gettr, Rumble, and Parler couldn't stand the test of time. Even US ex-president Donald Trump who recently started a new social network (Truth Social), doesn't seem to have attracted active users on his platform the way he wished. So, in my humble opinion, it makes much sense that Elon Musk has chosen to get involved in an already successful platform over going into a risky project with so little chance of success.


What could it mean for Dogecoin?

We all know how much Elon likes Dogecoin. He has been shilling it for about two years on his Twitter account and is credited with reviving the Doge Foundation. It wouldn't exaggeration to say that Elon is the big reason why Dogecoin is of The Top-10 cryptocurrencies, and there is even speculation that he is the one behind the biggest wallet address which holds over 22.54% of the entire Doge supply
After all that, what would you expect Elon to do for Dogecoin if he either launched his own social network or acquired Twitter? For me, I wouldn't expect anything less than adding Dogecoin as a way of tipping, and I'm not alone in that...In fact, a well-known YouTuber called Steven Steele dropped a comment saying that whether Elon Musk will buy Twitter or start his own platform, there should be a Dogecoin tipping integration, to which Elon replied with the 100% emoji.

What's more is that despite being purely a meme coin, the initial goal of creating Dogecoin in 2013 was in fact to provide an easy way of tipping on Reddit, so the idea of Elon Musk trying to integrate it into Twitter doesn't seem that far-fetched, considering that Tesla already accepts Dogecoin for certain merch items and even as a method of payment at some supercharging stations. And if we were to imagine such integration to happen, it would easily earn Dogecoin a massive exposure to billions of people across the world, and then reaching that legendary $1 level would no more be just a dream!
What do you guys think about Elon Musk buying Twitter stock, and could it mean anything for Dogecoin?
I'm keen to hear your opinions and thoughts :)


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Good job! You just got yourself a 100% upvote from ACOM. Enjoy!

Thank you!

Hello @qsyal
This Elon character never fails to make the news. He is quite daring and I would say risky, but otherwise he would never be where he is.
A social network like Twitter, with a ready made renown, and managing to incorporate any cryptocurrency for tipping or something similar, sure would be a great addition to the crypto ecosystem in general.

He is certainly a huge influencer. His recent purchase qualified him to join Twitter's board, which will give him much power to change things in the future, but I guess he has a bit of a moody character. He changed his mind about multiple things in the past, so I don't think it would be wise to take financial decisions based on his tweets

Thanks for stopping by :) @josevas217

Hello friend, Elon Musk never ceases to surprise us, for better or for worse he is a person who has greatly influenced the crypto world, and if he were to promote an integration of Twitter and some cryptocurrency in the future it would be something very important for cryptocurrencies, only We will have to wait to see where this Elon movement really points.

He joined Twitter's board recently, so maybe it is just a matter of time before we see a Dogecoin tipping jar on Twitter. it's interesting to wait :)

Thanks for stopping by @emiliomoron

hello @qsyal
No doubt every entrepreneur is always looking for alliances or buying companies to generate more resources and I think this will help twitter and Elon as well.

Thank you very much for sharing

Elon Musk has built an entire empire of successful companies and great investments, and it seems he wants to expand it furthermore!

Thanks for reading @dgalan

Greetings @qsyal,

Elon musk is a person who has changed many of his decisions at any point in time,

so making any decision according to his tweets are worthless in my opinion, we can not make any decision of purchasing or selling on his tweets i know people do this but in my opinion it's risky : |

This time, Musk’s purchase of 9.2% of the Twitter stock was revealed by a regulatory filing on Monday, it wasn't him who revealed the news. That's why Twitter shares surged as high as 30%. But I totally agree with your opinion. We shouldn't make any investment decision based on someone's tweets or talks

Thanks for reading :) @winy

I think Elon's influence is a double edged sword. On the one hand he certainly is influencing the future of human kind and this in a good way in my opinion. I am just not sure about his personality, he could be a great super villan as well which makes me fear him a little bit.

Great article about the recent development! :)

Well, Elon Musk helped the crypto community to get exposed to billions of people, but I agree he can be a bit of a moody person sometimes. That's why I think we shouldn't make large investment moves based on his opinions

Thanks for reading :) @ga38jem

Its quite remarkable how influential people like elon musk mark interesting history there is no doubt twitter might be push to a higher level and aslo pave path for crypto enthusiasts lets see what the future holds for all.

His recent investment made him join Twitter's board and It seems there is a lot that's getting done, so as you said let's wait and see :)

Thank you for reading

Elon Musk always has a way of making the headlines. I think he's an incredible guy, with several wonderful ideas, and huge success to show for his intellect. His new connection with Twitter will most likely lead to a better future for Dogecoin. It's actually a good time to start buying Dogecoin, I think. Lovely post!

It's actually a good time to start buying Dogecoin, I think. Lovely post!

No doubt Elon has a huge influence and fame for helping Dogecoin get the coverage and coverage it needs to pump, but I'd suggest not making big investments based on his tweets, simply because I don't like to trust a currency that relies mostly on one person.

Thank you for stopping by :) @creativeinsight

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