Will Elon Musk convert Twitter to Bitcoin?

Elon Musk finally offered Twitter shareholders to buy them out at the agreed price in April. Bode well for Bitcoin?

Elon Musk against bots

The boss of Tesla finally wants to buy the social network at the price agreed in April of 54 dollars per share. This about-face comes two weeks before the trial scheduled for this incredible acquisition.

As a reminder, Elon Musk had proposed in the spring to acquire Twitter for 44 billion dollars. At first hostile, the social network ended up accepting before Mr. Musk canceled his offer, saying that the number of fake accounts (bots) is much higher than what is announced.

Twitter then launched legal proceedings to force the billionaire to honor his commitment. In short, this takeover is especially interesting because of the possibility of using Bitcoin to eliminate untimely bots.

This is what Michael Saylor has been proposing for some time now:

“Twitter can solve the problem of scammers and spambots by allowing real humans to post around 50,000 sats ($20) through the Lightning Network and be verified with an orange certification badge,” said the CEO of Microstrategy. “We can then limit comments and private messages to verified accounts. Bad actors will lose their 50,000 sats to Twitter which can monetize malevolence. »

“Humans will thank you if you eliminate the bots”

In other words, 48 ​​million Twitter users may soon have to download a wallet and buy bitcoin…

Twitter, future payment application?

Jack Mallers, CEO of the Strike app, agrees. The Chicagoan would certainly be happy to use the recently raised $80 million to integrate the Lightning Network with Twitter:

“If I were Elon Musk, had a global audience in a global network (Twitter), what would stop me from allowing my users to pay with their phone at Starbucks? What’s stopping me from transferring money via Twitter? Elon Musk has the opportunity to build payment systems traditionally not available to Twitter. »

“Twitter can become a payment application by adopting bitcoin
Users could buy a coffee at Starbucks, or send funds around the world using just their Twitter app. @jackmallers explains that @elonmusk has the ability to destabilize big banks. »

Let’s add that this idea is not only valid for Twitter. Any social media with a large user base could compete with Visa and Mastercard.

Facebook, Instagram, Pinterest, TikTok, Snapchat, WhatsApp, YouTube, Twitch, Telegram, Apple… They can all be transformed into payment applications thanks to the Lightning Network, which speeds up bitcoin payments.

It’s only a matter of time before CEOs realize these opportunities. In the meantime, the LN has just reached the bar of 5000 BTC and will soon also be able to transfer stablecoins on its tracks.

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