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Elon Musk acquires 9.2% of Twitter shares and share price skyrockets

Alex Coin
April 5, 2022
Reading Time: 3 mins read
0
Twitter

Twitter shares jumped in price on news that Elon Musk is acquiring a 9.2% stake in the social media giant, worth nearly $3 billion.

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***

Any step taken by the world’s No. 1 billionaire, Elon Musk, has repercussions on the planet. So does any news he announces. Even a joke he shares. The CEO of Tesla y SpaceX and often spreads this information through the media. Twitter and revolutionizes the social network. It has also managed to become a influencer in the crypto environment. For example, we are well aware of many big rises or falls that cryptocurrencies have had. like Dogecoin y Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. simply because of a comment he made on social media.

And now he will not only be a star user and sarcastic commentator on the social network a network refers to all nodes in the operation of a blockchain at any given moment in time. of the little bird, where he has more than 80 million followers. Now he will also is part of the owners.

Elon Musk acquired a 9.2% stake in social networking companyTwitter Inc (TWTR)according to a regulatory document published by the U.S. Securities and Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Commission, SEC.

According to the document Musk bought 73,486,938 shares of Twitter common stock, representing a 9.2% stake. According to the latest close refers to the closing price; similar to the same term used in stock trading. of the shares of Twitter at $39.31 per share, Musk’s stake would be worth $2.89 billion, says Coindesk.

Share price rises… and of Doge

According to the stock market an area or arena, online or offline, in which commercial dealings are conducted. charts, the actions of Twitter went up at this time, before business hours, more than 26% to USD $49.79, while Tesla shares were up nearly 1% in premarket trading . Also Dogecoin ( DOGE) has a 5% increase that coincides with the announcement. The fact is that Bloomberg had previously reported on the participation

Si las acciones de Twitter subieron en las operaciones previas al mercado, hay que estar atentos dentro de una hora, cuando abran oficialmente las bolsas de valores de EE UU.

Opposing views

It’s worth remembering that Musk’s action seems contradictory, as a few days ago he criticized the social media giant for “not adhering to the principles of freedom of expression”.

On March 24, he wrote: “I worry that the de facto bias in the ‘Twitter algorithm’ will have a major effect on public discourse. “.

I’m worried about de facto bias in “the Twitter algorithm” having a major effect on public discourse.

How do we know what’s really happening?

– Elon Musk (@elonmusk) March 24, 2022

He then tweeted a poll asking if Twitter’s algorithm should be open source.

Twitter algorithm should be open source

– Elon Musk (@elonmusk) March 24, 2022

At the time, the founder and former chief executive officer of Twitter, Jack Dorsey, respondió : “The choice of which algorithm a process or set of rules to be followed in problem-solving or calculation operations, usually by a computer. to use (or not) should be open to all.”

Musk también ha criticado el uso de Twitter de gastar recursos de ingeniería en la integración de NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. en lugar de solucionar otros problemas en su plataforma. “Twitter is spending engineering resources on this, while cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. scammers are throwing a spambot party in every thread!!!?”, escribió en enero, después de agregar imágenes de perfil de NFT.

Twitter is spending engineering resources on this bs while crypto scammers are throwing a spambot block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. party in every thread!?

– Elon Musk (@elonmusk) January 21, 2022

Perhaps, by buying shares in the network you are seeking to influence these changes to take place.

Sources: SEC, Coindesk , The Block, archivo

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Alex Coin

Cryptoinvestor. I follow the world of cryptocurrencies. Looking for the most relevant and significant news for you :)

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