cryptopotato.com
Whether his bid succeeds or not, Elon Musk’s official offer to purchase Twitter attracted the attention of the entire world. While some condemned his strategy as a potential hostile takeover, others, such as Robert Kiyosaki, believe Tesla’s CEO could bring back free speech to the social media channel.
Kiyosaki Approves Musk’s Approach
Elon Musk, the world’s wealthiest individual, purchased a 9.2% stake in Twitter in March, which at first was considered a passive stake. Shortly after the news broke out, though, he became significantly more active, with the first such signs pointing out that he was on route to becoming a board member.
While those have not materialized yet, the billionaire submitted a bid with the Securities and Exchange Commission for something a lot more significant – to acquire the social media giant in full and turn it into a private company.
The reactions were immediate, and quite a few came from the cryptocurrency industry. This was perhaps expected to an extent since Musk promised to go for free speech if he completed the Twitter acquisition, while the digital asset space strives for freedom as well.
Justin Sun, for instance, tried to outbid Musk. Vitalik Buterin suggested that such an acquisition could set negative precedents, while Charles Hoskinson offered to build a decentralized iteration of Twitter.
Robert Kiyosaki, a popular Bitcoin proponent and the author of the best-seller – Rich Dad, Poor Dad – also joined in the discussion. Kiyosaki, who has previously urged his millions of followers to buy BTC to protect against inflation, firstly noted that Musk’s actions have “turned on the lights, and now the rats and rodents running Twitter are running for cover.”
Later, he went further, calling Musk a capitalist who can “set our freedom of speech free from the rats, rodents, and reptiles hiding in Twitter’s WOKE Corporate Culture.”
ELON MUSK is a Capitalist. He is buying Twitter to set our FREEDOM of SPEECH free from the rats, rodents, and reptiles hiding in Twitters WOKE Corporate Culture. I love capitalism. I love freedom. I love Elon.
— therealkiyosaki (@theRealKiyosaki) April 19, 2022
Twitter Stock Movements
Although there’s no clear conclusion to the aforementioned saga in sight yet, it’s safe to say that it had a highly positive impact on Twitter’s stock prices. Once it became known that Musk had purchased a 9.2% stake in the company, TWTR shot up by more than 20% in hours and tapped a multi-month high. This came amid a tech market-wide downturn.
Since then, Twitter’s shares have cooled down and closed yesterday’s trading session at $46. Nevertheless, this is still 20% higher than their pricing point before Musk intervened.