At a time when many people are vilifying Musk and his takeover of Twitter, crypto’s richest entrepreneurs are publicly backing the controversial billionaire. Their interests are both ideological and financial.
It’s been a tough year for crypto billionaires, who saw their net worths plummet during the spring and summer sell off. But Elon Musk’s takeover of Twitter has them smiling once again.
In Musk and his promises to bring “free speech” to Twitter, crypto’s libertarian-leaning leaders see a kindred spirit. And in Musk’s on-again-off-again enthusiasm for crypto , some see glimmers of hope that Twitter will build crypto payments features or incorporate other ‘Web3’ elements. “I think Elon is awesome and we are so lucky to have him on our planet,” venture capitalist and bitcoin investor Tim Draper wrote toof the billionaire ranks earlier this year as bitcoin prices tumbled). “I believe he wants to save the planet with Tesla, make sure we can get off it with SpaceX, and now allow everyone free speech with Twitter, and he does it all profitably, so he can do it successfully. I hope he lives forever.
Another one of Musk’s other biggest cheerleaders is Changpeng Zhao, founder and CEO of Binance. The crypto exchange invested $500 million this month to help Musk take Twitter private at a wildly high $44 billion valuation .
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