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Cardano Founder Expects Significant Improvements in Twitter Under Musk's Leadership, Here's Why

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Tue, 04/26/2022 - 10:52
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Yuri Molchan
Charles Hoskinson has commented on the deal with Elon Musk approved by the Twitter board and explained it is likely to improve the company significantly
Cardano Founder Expects Significant Improvements in Twitter Under Musk's Leadership, Here's Why
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Founder of Cardano blockchain platform Charles Hoskinson has posted a tweet to support Elon Musk's takeover deal with the Twitter giant, stating that he expects the latter to become a significantly better company.

Hosk explains why new leadership is likely to improve Twitter

In a tweet published on April 25, Hoskinson stated that the Tesla boss was the only person who has promised to ban crypto scam giveaway bots on Twitter "or die trying." Therefore, Hosk expects this social media platform to significantly improve under its new leader.

Previously, Cardano and the IOHK founder tweeted that he was happy to build a decentralized social media platform from scratch with Elon Musk should his bid to buy Twitter be rejected.

However, yesterday, it was reported that the Twitter board approved the buyout for Musk for roughly $44 billion in cash. Some believe that the Tesla boss will have to sell some of his TSLA shares in order to fund the purchase.

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Mike Novogratz, Peter Schiff comment on "hysteria" around Twitter takeover

Two major investors and fund managers have posted their comments on Twitter regarding the approved buyout deal—Mike Novogratz (CEO and founder of Galaxy Digital) and Peter Schiff (chairman of SchiffGold, Bitcoin hater who prefers gold as an inflation hedge).

Novogratz's tweet mirrored that of Hoskinson, as Novo expects Musk to clean Twitter of crypto scam bots. He stated that even if Musk's management style does not suit everyone, if he keeps his word about the bots, that alone would be worth gratitude.

Schiff has taken this deal as a chance to criticize Musk, assuming that the centibillionaire may now have to sell his Tesla stock to ensure the funding. This would be convenient for Musk, Schiff believes, as he expects "the Tesla bubble to pop" at some point, and now Elon will be able to sell TSLA at a higher price rather than having to sell at a discount later on.

Besides, Schiff pointed out that he did not expect Musk to actually buy Twitter, adding that it is not the first time he "overestimated an investor's intelligence."

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.