Cardano’s Founder Anticipates Significant Improvements To Twitter After Elon Musk’s Takeover.

Charles Hoskinson, the founder of the Cardano blockchain technology, has tweeted his support for Elon Musk’s takeover of Twitter, claiming that he expects the latter to become a considerably better company.

Hoskinson claimed in a tweet that Musk was the only one who had committed to “or die trying.”. As a result, Hosk anticipates a big improvement in this social media network under its new management.

Previously, Cardano and the IOHK founder tweeted that if his attempt to buy Twitter was denied, he would be willing to work with Elon Musk to establish a decentralized social media site from the ground up.

However, it was announced yesterday that the Twitter board of directors had approved Musk’s purchase for $44 billion in cash. Some speculate that Musk will have to sell some of his Tesla stock to pay for the purchase.

Mike Novogratz and Peter Schiff are two big investors and fund managers who have commented on the approved takeover deal on Twitter.

the hysteria around @elonmusk buying Twitter is unsettling. While his style might not be for everyone, he usually does what he says he is going to do. Give him a chance to remove the bots. For that alone we will all be thanking him. It also will be a boon for @DefeatByTweet 😉

— Mike Novogratz (@novogratz) April 26, 2022

Novogratz’s tweet mirrored that of Hoskinson, stating that he expects Musk to scrub Twitter of cryptocurrency fraud bots. Even if Musk’s managerial style does not suit everyone, he claimed that keeping his promise on the bots will be enough to earn gratitude.

Schiff has used the agreement as an opportunity to criticize Musk, believing that the billionaire will have to sell his Tesla stock in order to secure the cash.

Since @elonmusk is actually buying #Twitter the smart move is to sell $TSLA. At some point the #Tesla bubble will pop, and Musk's shares will be force-sold after the collapse to cover his margin debt. Given the size of his position the block will likely trade at a large discount.

— Peter Schiff (@PeterSchiff) April 25, 2022

This would be advantageous for Musk, according to Schiff, because he believes “the Tesla bubble to pop” would burst at some time, and Elon will be able to sell TSLA at a better price rather than at a discount later.

Furthermore, Schiff stated that he did not expect Musk to purchase Twitter, and that this is not the first time he has “overestimated an investor’s intelligence.”

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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