I guess when you are a billionaire, or when you are as rich as Elon musk you start paying for what you tweet or what you joke with especially when it affects the market greatly. I remember back in 2019 when the financial market menace was Donald Trump, his tweets always have a way of affecting the market till he was no longer the president of America. Another market mover replaced him and here comes Elon Musk.
Elon Musk is known for being the CEO of Tesla and being one of the richest man in the world. He is a genius I won’t lie, his inventions and investments, but he is also known for using Twitter to move the market especially cryptocurrency. Imagine tweeting so much about the market, causing a major pump in the market, then got warned by the SEC to stop it, but instead he bought 9% of Twitter. Now he owns the highest stake , will the rate at which he tweets about bitcoin and Dogecoin reduce? Well we don’t know for now.
When it comes to tweeting he can’t be considered as one of those people who used their Twitter account for professional purposes, they are used for memes which he has been antagonized lots of times for his tweets. His Dogecoin pump was one of the reasons I invested in dogecoin in 2021, he pumped the Dogecoin so high, took it to the Saturday Night Life. Before his SNL appearance the price pumped up to $0.7 but after the SNL it dropped really low and its has been low since then.
Although before Elon Musk’s sudden love for Dogecoin, the coin was just a meme coin created to kill bitcoin, AKA the Bitcoin killer. But Elon is currently helping Dogecoin to provide more utility by working with the team. So buying 9% stake of Twitter for free speech and working with the Dogecoin team to bring more utility to the coin sounds like he is looking for Hive. Hive is a social media platform with free speech and also has a coin with great utility, all he should have done is come to Hive and voila problem solved. Hive is decentralized there is no need to buy a 9% stake and stay among the board of directors, except he want to be a witness.
Elon Musk invested upto $3 billion on Twitter, imagine if such amount was invested on Hive to develop whatever he wanted to develop on the Hive blockchain. This will go a long way in increasing the value of Hive and also gaining a lot of new Hivers into the blockchain. I don’t know how long it will take the world to discover Hive because Hive is everything they need but they don’t know yet.
Imagine if he was on Hive, will the SEC come after him for giving his opinion on what the situation of the market is? The free speech he is trying to build on Twitter is on Hive, the community is there, we need more exposure. Building on Hive gives him better chance of giving the community control.
