Can Elon Musk Influence The Next US Election?

The Elon Musk Twitter deal is sort of at its finish. A Bloomberg report said that the plan was to finalize the deal by Fri. 28 October, transferring possession to the billionaire. Because the social media platform is about to change palms, it has raised a number of questions relating to Musk’s plans for it and its impacts. Since Twitter’s affect spans each sphere of on a regular basis life, might Musk’s acquisition affect the subsequent US election?

Twitter’s Affect On US Election

Through the years, there have been a number of bans positioned on political figures by Twitter. One of the notable is the ban of former US president Donald Trump – a transfer that noticed requires ‘freedom of free speech’ on the platform, which Elon Musk himself has highlighted.

Musk has beforehand made it identified that when he took over the social media platform, he plans to ‘clear it up.’ His thought of a ‘clear up’ included making Twitter a platform that helps free speech. So it begs the query of how he intends to go about it.

As soon as Musk takes management of Twitter, he could have the ability to unban vital political figures similar to Donald Trump and Senator Ron Johnson. If the Tesla CEO does select to do that, it could have a profound affect on the subsequent US elections because it reinstates the entry of those political figures to a large viewers as soon as extra. Nonetheless, there isn’t any telling whether it is potential to additional affect past lifting the bans on political figures in pursuit of free speech.

The subsequent US election will occur in 2024, and by then — assuming the deal goes by means of as deliberate, Musk could have had management of the social media platform for not less than a yr. That is sufficient time for some important adjustments to the platform.

Musk, Bitcoin, And Social Media

Elon Musk has all the time been one of many largest evangelists of Bitcoin and cryptocurrencies generally. Again in 2021, his electrical car firm Tesla had briefly accepted Bitcoin funds earlier than halting it on account of environmental considerations. Nonetheless, Musk has not stopped displaying help for Bitcoin. Tesla nonetheless holds about $200 million value of BTC on its stability as of the time of this writing.

It’s due to this fact not a protracted shot to anticipate that using Bitcoin may very well be promoted on Twitter as soon as Musk takes over. Twitter already has the “Tip Jar” function that enables customers to tip content material creators utilizing Bitcoin and different cryptos. Musk’s earlier thought was to increase this to incorporate Dogecoin. So the billionaire’s takeover of Twitter might result in an excellent bigger presence of the crypto neighborhood on the platform. He might use his new place to advertise Bitcoin as he has carried out prior to now.

As for the Twitter deal, Musk doesn’t appear too fazed concerning the courtroom order to finish the deal by Oct. 28. “I believe it’s an asset that has simply kind of languished for a very long time however has unbelievable potential,” Musk stated throughout a Tesla earnings name. “Though clearly myself and the opposite traders are overpaying for Twitter proper now.”

Elon Musk visited the Twitter headquarters on Wednesday the place he stated he met “a number of cool folks.” He’s anticipated to talk to Twitter employees on Friday about the way forward for the platform. Whereas there aren’t any public particulars on what this could entail, there have been experiences that he plans to chop 75% of the 7,500 employees, leaving a skeleton workers of two,000.

BTC recovers above $20,700 | Supply: BTCUSD on TradingView.com

Featured picture from Ekonomist, chart from TradingView.com

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