ELON MUSK AND THE TWITTER TAKEOVER - HOW DOES THIS AFFECT CRYPTOCURRENCY?

So I’m sure you heard that Elon Musk (CEO of Tesla and SpaceX) bought up 10% of Twitter’s stock last week, which made him one of the largest shareholders. Well, he didn’t stop there, he also wanted to purchase Twitter at $43 Billion.😳🤑 The Twitter CEO and board of directors seemed to run scared so they immediately adopted what is known as the poison pill to stop any more crazy moves.

The poison pill is a defense mechanism that companies can use to prevent or discourage attempts of a hostile takeover by an acquirer (Elon Musk). What does any of that have to do with crypto you ask? 😀 Well, Elon Musk has 82.7 million Twitter followers and he seems to be bullish on cryptocurrency.

He mentioned on social media last year that he owned BTC, ETH, and Dogecoin. He also tweeted a picture of his Shiba Inu puppy and just that one picture of his puppy sent the Shiba Inu crypto coin spiking in price. In other words, with his social media followers and influence, it appears that he can cause crypto prices to jump up or down!🤷🏾‍♀️

Twitter has a really large user base and seems to be everyone’s loudspeaker and bullhorn, with a strong hashtag game that, when used, can immediately connect you to a dedicated group of like-minded people. It has been used to stir up social movements, and in my opinion, it carries more up-to-date commentaries on world events than any other platform. So if Twitter is used by an owner or mega shareholder to share news about cryptocurrency, that has the potential to heavily shake up the crypto industry, in spite of the thousands of bots that are also resident on that platform.🤷🏾‍♀️

My first thought about Elon Musk purchasing Twitter was that this was not a good idea. At all. Of course, it is never a good idea to make an investment decision just because someone famous says a product or service is a good investment, and I hope that everything we do and say on this blogging platform is because we are being led by God’s spirit and His wisdom.

Cryptocurrency is a volatile and risky investment, we already know that. We also know that we are investing only what we can afford to lose. That means that we don’t use our rent or mortgage money to buy dogecoin. We don’t use our car note money or food money to get ether. Instead, we use our Starbucks money, our $500 USD tennis shoes money, and our $2,500 Louis Vuitton handbag money to purchase cryptocurrency.

It also pays to stay in faith, practice discernment, and apply the wisdom of God in every transaction whether we’re buying, selling, holding, exchanging, or trading cryptocurrency. God isn’t surprised at the emergence of crypto, He knew it was coming before it arrived, and He has positioned us to be in this space to learn and grow. Who knows if He plans on using the cryptocurrency platform to cause a transfer of wealth to come into your hands? It could happen! Mark Chapter 9, verse 23 says:

23 Jesus said to him, “If you can believe, all things are possible to him who believes.”

We believe! 😙🤑

Copyright ©2022 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™ . The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestions in this post.