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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Can Elon Musk Influence The Next US Election?

Best Owie
Best Owie
1 year ago
3 mins read
Elon Musk

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The Elon Musk Twitter deal is almost at its end. A Bloomberg report stated that the plan was to finalize the deal by Fri. 28 October, transferring ownership to the billionaire. As the social media platform is about to switch hands, it has raised multiple questions regarding Musk’s plans for it and its impacts. Since Twitter’s influence spans every sphere of everyday life, could Musk’s acquisition influence the next US election?

Twitter’s Influence On US Election

Over the years, there have been multiple bans placed on political figures by Twitter. One of the most notable is the ban of former US president Donald Trump – a move that saw calls for ‘freedom of free speech’ on the platform, which Elon Musk himself has highlighted.

Musk has previously made it known that when he took over the social media platform, he plans to ‘clean it up.’ His idea of a ‘clean up’ included making Twitter a platform that supports free speech. So it begs the question of how he intends to go about it.

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Once Musk takes control of Twitter, he will have the power to unban important political figures such as Donald Trump and Senator Ron Johnson. If the Tesla CEO does choose to do this, it may have a profound influence on the next US elections as it reinstates the access of these political figures to a wide audience once more. However, there is no telling if it is possible to further influence beyond lifting the bans on political figures in pursuit of free speech.

The next US election will happen in 2024, and by then — assuming the deal goes through as planned, Musk will have had control of the social media platform for at least a year. This is enough time for some significant changes to the platform.

Musk, Bitcoin, And Social Media

Elon Musk has always been one of the biggest evangelists of Bitcoin and cryptocurrencies in general. Back in 2021, his electric vehicle company Tesla had briefly accepted Bitcoin payments before halting it due to environmental concerns. However, Musk has not stopped showing support for Bitcoin. Tesla still holds about $200 million worth of BTC on its balance as of the time of this writing.

It is therefore not a long shot to expect that the use of Bitcoin could be promoted on Twitter once Musk takes over. Twitter already has the “Tip Jar” feature that allows users to tip content creators using Bitcoin and other cryptos. Musk’s previous idea was to expand this to include Dogecoin. So the billionaire’s takeover of Twitter could lead to an even larger presence of the crypto community on the platform. He could use his new position to promote Bitcoin as he has done in the past.

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As for the Twitter deal, Musk does not seem too fazed about the court order to complete the deal by Oct. 28. “I think it’s an asset that has just sort of languished for a long time but has incredible potential,” Musk said during a Tesla earnings call. “Although obviously myself and the other investors are overpaying for Twitter right now.”

Elon Musk visited the Twitter headquarters on Wednesday where he said he met “a lot of cool people.” He is expected to speak to Twitter workers on Friday about the future of the platform. While there are no public details on what this would entail, there have been reports that he plans to cut 75% of the 7,500 workers, leaving a skeleton staff of 2,000.

Bitcoin price chart from TradingView.com

BTC recovers above $20,700 | Source: BTCUSD on TradingView.com
Featured image from Ekonomist, chart from TradingView.com

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

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Best Owie
Best Owie

Best Owie

Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality.

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Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best’s publications, which are always clear and concise, enabling easy reading and understanding for all.

Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best’s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community.

Best’s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information.

Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity.

When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world’s most quiet and well-behaved Husky. Best’s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well.

As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers.

Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best’s prolific career in the media industry is a testament of how hard work and dedication pays.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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