Will Bitcoin's Price be affected by this?

[Davidvictorson]

So I read on the news that Mr. Musk has offered to proceed with a deal to buy Twitter at the price he proposed months ago before trying to call it off. See the snippet of the news below:

Elon Musk has offered to proceed with a deal to buy Twitter at the price he proposed months ago before trying to call it off, according to a legal filing, a stunning development weeks before the two sides were due to face off in a trial.

In a letter that Musk’s side sent to Twitter overnight, he offered to go ahead with the deal at $54.20 a share if the Delaware Chancery Court, which was scheduled to hold the trial on Oct. 17, agrees to “enter an immediate stay” of the case “and adjourn the trial and all other” related proceedings. Twitter enclosed a copy of the letter from Musk’s attorneys in a financial filing Tuesday.

Twitter said in a statement Tuesday that it received the letter and intends to close the transaction at the original share price offered by Musk’s team. The company plans to accept the offer but is waiting for confirmation that the judge can oversee the process, said a person familiar with the discussions who spoke on the condition of anonymity to describe sensitive matters.

Now, my question is what impact do you think Mr. Musk's purchase of Twitter will have on Bitcoin's price if he succeeds?

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[mk4]

Now, my question is what impact do you think Mr. Musk's purchase of Twitter will have on Bitcoin's price if he succeeds?

What does this have anything to do with Bitcoin in the first place though? Not like it makes sense to integrate Twitter+Bitcoin with anything(besides the donations thing, which is nice but meh), unless you have an idea.

My guess: nil.

[stompix]

Now, my question is what impact do you think Mr. Musk's purchase of Twitter will have on Bitcoin's price if he succeeds?

Now, my question to you is, why would you even think that this purchase could or would affect the Bitcoin price in the first place? One, just one tiny fraction of a scenario or a thought in which it would do so cause right now I'm incapable of thinking of one!
The only thing I can think of this actually influencing crypto (but NOT! Bitcoin)as in the altcoin scene is his statement on cutting down fake accounts, so this would be indeed a disastrous blow to the shitcoins spammers that are turning any semi-important crypto-related twitter into a spam fest.

[rhomelmabini]

How does it relate in the first place for Bitcoin? I think it's out of the question between the deal of Musk to Twitter, it doesn't have to do with it. I think Dogecoin was more related to this discussion since it pump a little when Elon agrees again to buy Twitter (funny how people associate this kind of stuff). Unless he's back again with the sarcastic tweets involving Bitcoin.

[decodx]

I can't imagine that this will do anything to help the price of Bitcoin, but I'd love to hear your thoughts on why you think Musk's purchase of Twitter might relate to the Bitcoin cryptocurrency.

[Baofeng]

Others might be bullish with this news. But we already know that Elon has sold much of his bitcoin already and he seems to be leaning with his favorite meme coin - Doge.

So I guess there is none, although the price seems to be very positive in the last couple of days but maybe manipulators are just riding the hype with this news and pumping the price and then we will see another dip in the $18k again. And if this news has some effect it will be in just short term.

[adaseb]

Only crypto that it might benefit is maybe doge but that’s a stretch. Elon had the crazy idea in the past to charge people 1 doge per post on Twitter. It was ridiculous and won’t happen.

But for Bitcoin I don’t see how it would affect it. It’s great for tech overall but these 2 aren’t related to each other by much.

[Ayers]

there is no link between bitcoin and twitter but with this news published yesterday it helped dogecoin price increase by 10%. it is likely that this deal will affect bitcoin and the crypto market, i've been reading recently, don't know if this is true or just a rumor, but if it is, i think it will affect bitcoin

Sam, the owner of the FTX exchange, is considering acquiring twitter with Elon and hopes the two can discuss the deal

https://cryptonews.com/news/ftx-crypto-exchange-ceo-considered-buying-twitter-with-elon-musk.htm

Only crypto that it might benefit is maybe doge but that’s a stretch. Elon had the crazy idea in the past to charge people 1 doge per post on Twitter. It was ridiculous and won’t happen.

twitter is a very big and popular social network, most crypto investors are active with this platform but if he charges per post i think twitter will lose one large number of users, i don't think Elon will do that either

[Upgrade00]

Stop giving Elon Musk relevancy in relation to bitcoin price. Nothing he does affest Bitcoin, except you (and many others) are greatly influenced by him and react to his actions. My pizza order could have more of an impact on the price of Bitcoin than the purchase of Twitter.

And there has been too much back and forth on that purchase story to really expect anything to be decided soon.

[Ararbermas]

It's nothing mate, i mean for sure it cannot make an impact unless after that elon musk convince his team to highlight the whole crypto currency especially bitcoin because surely the whole market gained more attention around the internet.. But perhaps we already knows what elon musk planning why he really wants to buy twitter and that is to promote his own projects and etc.

[hugeblack]

What is the effect that occurred in the past to believe that such news will affect the price in the future?

The market is now in a bad situation and therefore needs real and direct news to make a change and not indirect news, as both Elon Musk or Twitter did not explicitly announce that they might invest and that Bitcoin is one of their future plans.

This is if we assume that the news is correct and that the deal will pass without any unexpected obstacles.

[CryptoBuds]

It's nothing mate, i mean for sure it cannot make an impact unless after that elon musk convince his team to highlight the whole crypto currency especially bitcoin because surely the whole market gained more attention around the internet.. But perhaps we already knows what elon musk planning why he really wants to buy twitter and that is to promote his own projects and etc.

My personal belief is that he doesn't love bitcoin or crypto that much, all he did in the past was find a way to fill his pocket with bitcoin or doge, it seems like he's just trying to earn money and will forget about them as soon as the goal is achieved. He is a smart person so maybe he already has his own business plan, I don't think he bought twitter just for the sake of launching the project and promoting it.

But hopefully after taking over twitter he can change some of its regulations like freedom of speech, which he always complained about the social network before. I am also a regular user on twitter, I really love it.

[Yaunfitda]

I guess we are done with Elon Musk and his twitter acquisition drama. So I would agree what most of the posters said, it will not have a significant effect as far as the price goes. Maybe if we see Elon as pro-Bitcoin, but we have seen how we change his stance specially with this whole crazy idea that bitcoin is not eco-friendly. Majority of us stop believing in him. He can do whatever he pleases with his new company, but crypto market will always be a separate entity from any self made billionaire.

[gantez]

You can not expect impact on bitcoin because of Elon musk that is not a pro bitcoiner. If he is a bitcoin lover, it can have some shift in bitcoin price to bull even with the grant of request to go on with the deal but he is not so no need expecting the price to change because of him. You can talk positive for dogecoin because he promote it. The hodlers of dogecoin can expect something good if he succeed with the deal.

[Yamifoud]

Well, I see nothing. It will just affect on Twitter management, not the crypto market.

Oh, I really see how social media influence the market trend but never I think this would touch crypto. I couldn't think how Elon Musk use this to manipulate the market and the minds of crypto investors. If there is a pump or dump happen in Bitcoin a few days from now, I'm sure this is not because of this but something which really connected to the market.

[Chainsmokers]

Elon musk did buy Twitter but I don't think it will have anything to do with Bitcoin for now,
we know that Elon musk is indeed a person who influences cryptocurrencies,
and if Twitter is going to accept cryptocurrencies then it might as well have an effect later, so just wait news comes again.

[ethereumhunter]

Now, my question is what impact do you think Mr. Musk's purchase of Twitter will have on Bitcoin's price if he succeeds?

I guess it wouldn't relate unless Elon said, "i will pump for bitcoin like i did for dogecoin" lol.

Elon is the type of person who only thinks about himself and how he can benefit. He is also smart to find moments that he can use to benefit from those moments and get other advantages.

We don't know what Elon's plans are but what is clear, if it's bitcoin-related, we might see a bitcoin price shock. But I don't know

[Mpamaegbu]

Stop giving Elon Musk relevancy in relation to bitcoin price. Nothing he does affest Bitcoin, except you (and many others) are greatly influenced by him and react to his actions.

It's the Number 1 money-man on earth at the moment we're talking about here. Definitely he has some level of clout, whether we want to admit it or not. Money is the name of this earthly game we call hustling. Elon Musk has it and just like ants to sugar, there are expectedly going to be those who will worship the soil he steps on. Yes, I don't like his guts too (just like you) and how he makes comments he doesn't linger long enough to stick to but then I give it to him that he has an ability to influence stuff. His power of influence may not be on veteran investors and traders but we can't truly say that for noob investors.

[South Park]

So I read on the news that Mr. Musk has offered to proceed with a deal to buy Twitter at the price he proposed months ago before trying to call it off. See the snippet of the news below:


Now, my question is what impact do you think Mr. Musk's purchase of Twitter will have on Bitcoin's price if he succeeds?

I do not really think this event is going to have too much influence at all in bitcoin, however it could have an effect on the meme coin market as those people reverence Elon Musk as if he is some sort of divinity, but other than that I would not expect too see too much of excitement over this news, we have seen how fast Elon Musk can change his mind, we saw it when it came to this acquisition and when it came to bitcoin as well, so I do not see how this could be positive for bitcoin at all.

[goaldigger]

The news is between the two private companies though Elon is kinda expose to cryptocurrency recently but I think the deal has nothing to do with Bitcoin. We can only concern about the future plan of Twitter with regards to crypto adoption and for now, we should wait for that and wait for this deal to fully close. Elon is crypto enthusiast, I’m sure he already have plans how to adopt cryptocurrency in twitter platform, let’s just wait for that.