Cardano founder Charles Hoskinson reacted as the Twitter board is seriously considering selling the Tesla CEO and founder a 100 percent stake in the microblogging platform
Twitter’s board is being pressured by shareholders to accept Elon Musk’s bid
Despite speculation that the Twitter board will reject Elon Musk’s bid outright, recent reports suggest that the company is seriously considering selling the Tesla CEO and founder a 100 percent stake in the microblogging platform, which excites Cardano Founder.
The Twitter board of directors has begun discussions with itself and is weighing the benefits and drawbacks of selling the microblogging platform to Musk.
According to the report, the board began considering the deal after Tesla CEO Elon Musk wooed the company’s shareholders last week with financial details of his $43 billion bid.
Calls have been made to the company’s board of directors following his explanation of the financing details of his bid to shareholders, as it has been urged not to let the opportunity pass them by.
As reported by CoinScreed earlier today, the board is seriously considering Musk’s offer and could respond by the end of this week.
No Decision Has Been Taken
The fact that the Twitter board has begun discussions with its members about Musk’s bid does not mean that the microblogging platform will be sold to Musk.
The company is only considering selling the company to Musk based on his $43 billion investment in Tesla.
Remember that during Musk’s Twitter bid announcement, the Tesla CEO proposed a $54.20 per share offer as his best and final offer.
“I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter, and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder”
— Elon MuskOne of the stumbling blocks in the deal negotiations is Musk’s insistence on paying $54.20 per share, as the board would most likely want the Tesla CEO to raise his offer.
Apart from considering Musk’s bid, the board is also looking into whether he is the subject of any investigations that could jeopardize the deal.
Cardano Founder Reacts
Meanwhile, Charles Hoskinson, Cardano Founder and CEO of Input-Output Global (IOG), the firm in charge of conducting Cardano (ADA) research and development, reacted to reports that the Twitter board is considering Musk’s offer.
Hoskinson, Cardano founder, who had previously expressed interest in working with Musk on a decentralized social media platform, shared a gif on Twitter, indicating that he was enjoying the moment and pleased with the progress.
“I believe it is critical to have a welcoming environment for free speech,” Musk stated. “Twitter has essentially replaced the town square, and it’s critical that people have both the reality and the idea that they can talk freely within the law.”
— Elon MuskOne of the reasons Musk is considering buying Twitter is to promote free speech on the platform while also removing spambots used by criminals to defraud cryptocurrency investors.
Musk recently stated that if his bid is accepted, he will wage war on Twitter bots and their creators, ensuring that the platform is safe for all users, including cryptocurrency investors.
Cardano Founder Hoskinson believes that approving the bid would be a win for the cryptocurrency industry because it would reduce the number of cases of cryptocurrency scams, which would help the industry gain favor with global regulators.
