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Elon Musk Hints Twitter Will Integrate Crypto Payments if His Takeover Bid Is Successful

Elon Musk Hints Twitter Will Integrate Crypto Payments Under His Leadership

Tesla CEO Elon Musk has suggested integrating crypto payments into Twitter. “My goal would be to maximize the usefulness of the service,” he told Twitter’s employees in his first all-hands meeting with them.

Twitter’s First All-Hands Meeting With Elon Musk, Integrating Crypto Payments

Tesla and Spacex CEO Elon Musk, who may become the new owner of Twitter Inc., had his first all-hands meeting with Twitter’s employees Thursday.

Musk answered many questions about how he plans to run the social media company if his bid to buy Twitter is successful. However, the $44 billion deal is currently on hold, and Musk has accused Twitter of a material breach of the merger agreement.

During the meeting, Musk mentioned crypto a few times, according to a leaked transcript of the meeting and a leaked video posted by Project Veritas.

Leslie Berland, Twitter’s chief marketing officer, asked Musk: “Can you talk a little bit about Twitter and payments?”

The Tesla boss began by stating that “money is essentially a form of information,” adding that it is “fundamentally digital.” He added:

I think it would make sense to integrate payments into Twitter so that it’s easy to send money back and forth, and fiat currency as well as crypto — essentially, whatever somebody would find useful.

“So my goal would be to maximize the usefulness of the service — the more useful it is, the better. And if one can use it to make convenient payments, that’s an increase in usefulness,” he clarified.

Crypto Scams and Spam Accounts

Berland also asked Musk about some problems he sees with Twitter. The Tesla CEO replied:

There’s definitely an ongoing challenge with Twitter with bot accounts and spam accounts. There’s quite a lot of crypto scams on Twitter.

“It’s gotten better, but there’s still a fair bit of that,” he continued. “There are also people where they’re not necessarily bots, but they might be operating. You know, one person’s operating hundreds of accounts and trying to make them look like individuals, but they’re not.”

Musk previously said that the spam bot is the single most annoying problem on Twitter and he vowed to defeat it “or die trying,” if his bid to buy the social media platform succeeds.

Transparency, Trust, and Free Speech

Musk further explained to Twitter’s employees: “I think it’s extremely important that there be transparency. So that’s why I’m an advocate of having the algorithm be open source so that people can critique it, improve it, identify bugs, potentially, or bias.”

Noting that “transparency obviously increases trust,” the Spacex boss emphasized:

I think that trust is extremely important, and then just the usefulness of the system — getting rid of sort of troll farms and bots and spam is incredibly important.

Regarding free speech, Musk said: “I think it’s essential to have free speech and to be able to communicate freely … It’s free speech within the context of the law. So I’m not talking about suggesting that we just flout the law, because we’ll just get shut down in that case.”

What do you think about how Elon Musk will run Twitter? Let us know in the comments section below.

Bitcoin (BTC) Could Pop by the End of 2022, According to Deutsche Bank Analysts

Covered: Deutsche Bank Analysts Think Bitcoin Can Pop Possible Reasons For Downside Deutsche Bank Analysts Think Bitcoin Can Pop Researchers at Deutsche Bank say Bitcoin (BTC) might rise by as much as 40% to finish the year despite its months-long losing streak. According to a new BNN Bloomberg report, Deutsche analysts Marion Laboure and Galina::Listen

Covered:

  • Deutsche Bank Analysts Think Bitcoin Can Pop
  • Possible Reasons For Downside

Deutsche Bank Analysts Think Bitcoin Can Pop

Researchers at Deutsche Bank say Bitcoin (BTC) might rise by as much as 40% to finish the year despite its months-long losing streak.

According to a new BNN Bloomberg report, Deutsche analysts Marion Laboure and Galina Pozdnyakova note that Bitcoin’s chart patterns are looking similar to traditional stock markets.

Their prediction that the S&P 500 will recapture January levels means BTC could climb back to $28,000.

The analysts add that cryptocurrencies are more like diamonds than gold, noting the successful branding done by the De Beers corporation.

“By marketing an idea rather than a product, they built a solid foundation for the $72 billion-a-year diamond industry, which they have dominated for the last eighty years.

What’s true for diamonds, is true for many goods and services, including Bitcoin.”

Recommended: Why The Bitcoin ‘Short’ ETF Is Good For BTC

Possible Reasons For Downside

Laboure and Pozdnyakova conclude by warning that it’s not guaranteed BTC will rally due to the complex and non-traditional nature of cryptocurrencies.

“Stabilizing token prices is hard because there are no common valuation models like those within the public equity system. In addition, the crypto market is highly fragmented.

The crypto freefall could continue because of the system’s complexity.”

At time of writing, Bitcoin is down 5.55% over the past 24 hours, priced at $19,777.

BTC would need to rally by 41.5% from current levels to revisit $28,000, a price last seen on June 12th.

Source: BNN Bloomberg

*This article originally appeared in The Daily Hodl

 

The post Bitcoin (BTC) Could Pop by the End of 2022, According to Deutsche Bank Analysts appeared first on CryptosRus.

Elon Musk Hints Twitter Will Integrate Crypto Payments if His Takeover Bid Is Successful

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