Many people consider Elon Musk to be one of the biggest influencers in the cryptocurrency industry. A few weeks ago, the billionaire acquired the social network Twitter. Many members of the crypto community now believe that Twitter is the platform of choice to discuss digital asset issues. For Charles Hoskinson, the founder of Cardano (ADA), the acquisition of Elon Musk will boost crypto adoption.
Elon Musk’s pivotal role in adoption
The adoption of cryptos and their ability to drive financial inclusion is something that is close to Charles Hoskinson’s heart. The founder of the Cardano (ADA) blockchain never misses an opportunity to address the topic. He’s right speak of Elon Musk’s ability to drive crypto adoption. This was during a panel discussion at Web Summit 2022.
Elon Musk’s acquisition of Twitter will bring 200,000,000 more crypto users, he says
“The scale of things is just insane. There are now 300 million crypto users in the world. It went from zero to 300 million in just 13 years (…) Elon Musk will likely bring crypto to 200 million people by buying Twitter. He has full intention of incorporating cryptos into it in one form or another. I think that’s why Binance invested half a billion dollars in it.”he explained.
Charles Hoskinson says he is convinced that Twitter will become a platform that will centralize many crypto services. Therefore, it is expected to be the focus of adoption growth over the next few years. The founder of the ADA gave the example of the DOGE, that is pretty good, since the announcement of Elon Musk’s arrival at the helm of the blue bird. As a reminder: Elon Musk has taken on the cause of cryptography several times with the dog’s head.
Charles Hoskinson says he is optimistic about the direction the crypto market will take over the next few years. He confirmed that Twitter, Elon Musk’s social network, will play a key role in the adoption of digital assets.
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Far from dampening my enthusiasm, an unsuccessful cryptocurrency investment in 2017 only heightened my enthusiasm. I therefore decided to study and understand the blockchain and its many uses and use my pen to share information related to this ecosystem.