The Crypto Industry Voices Opinions Over Elon Musk Buying Twitter

Twitter announced on Monday that the board of directors has unanimously approved Tesla’s CEO — Elon Musk’s bid to purchase Twitter stock at $54.20 per share. This means that Musk will pay roughly $44 billion.

Although the deal is expected to close by the end of 2022, it is still subject to the approval of stockholders and certain regulators.

Musk stated that he hopes that even his worst haters would stay on Twitter after the takeover because “that is what free speech means”.

After the announcement on Monday, many public figures and crypto industry leaders started voicing their opinions, both positive and negative.

Unfortunately, many believe that the acquisition will have the opposite result when it comes to freedom of speech. Media Masters of America expressed their opinion when they said that Elon buying Twitter “would be a victory for disinformation and the people who peddle it”.

One of the biggest concerns raised is the fact that people who have been banned from the platform for inciting violence might make a comeback.

Jackson Palmer, co-creator of Dogecoin (DOGE), states that he believes the acquisition is a “hostile takeover” and that it goes against the idea of freedom. On the other hand, Anthony Pompliano, a well-known Bitcoin bull, congratulated Musk.

Michael Saylor, the founder of MicroStrategy, also seems to back the industry after he replied to Musk with the text of the first amendment of the United States Constitution. This suggests his support for Musk’s move.

Currently, shares of Twitter are priced at $51.70, which is a 32% increase over the last month.