Bitcoin
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Bitcoin broke the $20,000 mark during yesterday’s trading, thanks to information that appeared about Elon Musk’s communication with a pool of bankers. They are funding a deal for the well-known entrepreneur to acquire Twitter, which he says will close this Friday.
The move will help avoid a lawsuit initiated by the social network after Elon Musk’s rejection of a $44 billion deal.
The founder of Tesla and SpaceX accused Twitter in the summer of deliberately underestimating the number of bots. The social network claimed to have spam accounts at less than 5%, according to Musk, their share was 20% and higher.
The real reason for the refusal of the transaction was the price of shares that fell below $40, for which the new owner of the company paid shareholders $54.20. The crisis in the stock market also affected Elon Musk, who lost more than $17 billion of his fortune in the summer of 2022 in the fall of Tesla shares.
The return to the deal allowed the capitalization of Twitter to update the highs of the year and had a positive impact on the Bitcoin rate. Elon Musk is widely supportive of innovation in the cryptocurrency market. The social network can become a tool for the mass distribution of digital assets and find a new source of income in the development of this direction.
Before Musk published the closing date of the deal, there was information that the Twitter team was developing their own wallet. This fact indicates that the developers have well-developed plans for the cryptocurrency market, which can now find funding from the founder of Tesla and SpaceX.
Probably yesterday’s Bitcoin pump is far from the last. Digital assets may rise upon the closing of the deal on Friday. In the future, Musk will be interested in technological announcements, becoming the owner of the social network, which will positively affect the price of stocks and cryptocurrencies.
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