Twitter to enable Bitcoin, Solana, XRP and other crypto options
- Elon Musk is set to move forward with a deal to buy Twitter for its original agreed price of $54.20 after months of legal drama with the social media platform.
- The widely followed crypto investor Crypto Rand believes that Musk will, among other things, integrate digital payments into Twitter after the acquisition.
On Tuesday, the news came that Elon Musk’s acquisition of Twitter was back on the table. As part of his plans for the social media platform after the takeover, some market experts suggest that the centibillionaire Tesla boss will add a cryptocurrency payment feature.
Twitter may soon enable crypto purchases
Renowned crypto trader and technical analyst Crypto Rand has shared the top things he believes Elon Musk will implement on Twitter once the takeover deal is complete. Perhaps the most talked about aspect of the Tesla/SpaceX CEO’s bid in the cryptosphere has been crypto payments.
In accordance Crypto Rand, Musk could potentially include the ability to make purchases and other payments in digital currencies such as bitcoin, Ripple’s XRP and Solana. The business magnate previously hinted that Twitter Blue subscriptions could be paid for in his favorite memecoin, Dogecoin. Twitter already allows users to tip their favorite creators with bitcoin and ether.
So it seems that #ElonMusk will make the following changes in #Twitter:
🔶 Add #edit button
🔶Cut down on #bots
🔶Possibly activate #Crypto buyWhat changes would you like to see on Twitter?
I read you 👇 pic.twitter.com/Icoypi3hLi
— Crypto Rand (@crypto_rand) 5 October 2022
If Musk takes the helm, Twitter users should also expect the addition of an edit button and the elimination of spam bots that have plagued the social networking platform. The problem is actually the current wait for the purchase agreement, with Musk previously claiming that Twitter was misrepresenting the number of spam accounts on the platform.
Musk’s $44 billion Twitter deal
Musk had previously acquired a 9.2 percent stake in Twitter, where he has over 107 million followers. Tesla Technoking then attempted to buy the rest of the firm in April at $54.20 a share — or $44 billion. However, the billionaire accused Twitter of manipulating some of its data regarding the number of users. In May, he put the deal on hold until he could prove that fake accounts represent less than 5 percent of Twitter’s total users.
However, Twitter took Musk to court for breaching their purchase agreement. The company sought at least $1 billion in fines. His renewed bid to buy the microblogging site will potentially help him avoid a contentious court battle. Twitter accepted Musk’s new offer, which indicates that “the intention of the company is to close the transaction at $54.20 per share.”
Many in the crypto industry have rallied around Musk’s ambition to turn Twitter into a platform that supports free speech. For example, Binance CEO Changpeng Zhao and FTX CEO Sam Bankman-Fried have both expressed interest in financially helping the Tesla CEO close the deal.
Dogecoin, which has previously rallied on the back of Musk’s actions, rose above $0.06 on the news that the buy was back.
