What Elon Musk’s investment could mean for Twitter’s crypto plans

Crypto News today: What Elon Musk’s investment could mean for Twitter’s crypto plans
Tesla CEO Elon Musk recently bought a 9.2% stake in Twitter, making him the largest stakeholder in the social media firm.

Whenever Elon Musk does something on Twitter, the crypto market moves in response. Publishing a tweet, changing his profile picture or adding “#Bitcoin” on his bio affects the markets — the latter even more so, sending Bitcoin (BTC) price up by 20%. This is why the community lies in anticipation of what Musk‘s Twitter investment could mean for the crypto industry.

Ken Li, investment director at Binance Labs, told Cointelegraph that Musk’s investment can help push the platform’s crypto initiatives forward and even lead to the integration of DOGE within the platform.
Apart from BTC, Elon Musk has been affiliated with DOGE. Because of his love of memes, Musk‘s DOGE tweets have been linked to the asset‘s price soaring, leaving musk to be accused of price manipulation. The billionaire also declared later in 2021 that DOGE is better than BTC when it comes to payments. In January 2022, Tesla started accepting DOGE as payment for its merchandise.

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Source: https://cointelegraph.com/news/what-elon-musk-s-investment-could-mean-for-twitter-s-crypto-plans

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