Cardano founder’s offer to Elon Musk: decentralized social media platform

Cardano founder, Charles Hoskinson offered help to Elon Musk. All hell broke loose on social media when Musk shocked the internet when he offered to acquire Twitter outright. Though some were outraged, Hoskinson encouraged the Tesla CEO by lending a hand. This response came in the shape of a new social media platform to replace the old one.

Musk wanted to increase his stake in Twitter after becoming the company’s top shareholder. He intended to buy the company at $54.20 per share, claiming that privatization would help to protect free expression. This drew a lot of attention from a variety of people. While some increased their proposal, a few others opted to team up with Musk to launch a completely new platform.

According to the founder of the American electric car manufacturer, achieving Twitter’s aims will be tough under existing circumstances, thus he is keen to purchase the platform and take it private.

However, his proposition arrived less than a week after his over 9% Twitter holding was revealed. Musk stated that if his offer is rejected, he may have to reevaluate his investment in Twitter because he believes the firm will not be able to meet its goals in the present environment.

A plot to include Cardano in the tipping service?

Musk polled his almost 100 million Twitter followers a few weeks ago to see if he should build a decentralized social media platform that respects free expression.

Musk’s fans overwhelmingly supported his decision to develop a decentralized platform in a Twitter poll, with some users suggesting that he include cryptocurrency like Dogecoin (DOGE) in the platform’s tipping jar. As a result, it does not come as a surprise that Cardano’s founder wants to work with Musk to create a decentralized social media platform, as he wants the ADA token to be included in the site’s tipping service.

Furthermore, the prospect of the world’s richest person, who has publicly trolled, harassed, and intimidated people on Twitter, becoming the owner of the very influential social media site, has sparked a lot of debate. Musk was chastised by Dogecoin co-founder Jackson Palmer for pursuing a hostile acquisition of Twitter.

In light of recent events, Musk admitted that he is unsure if he would be able to take over Twitter, but that he has a “Plan B.” At the time of writing, Cardano (ADA) was priced at $0.9474 with a daily drop of 1.94%.