Dorsey Praises Musk's Twitter Buy: 'Elon Is the Singular Solution'

"Taking it back from Wall Street is the correct first step," Twitter founder and erstwhile CEO Jack Dorsey tweeted Monday.

AccessTimeIconApr 26, 2022 at 2:37 a.m. UTC
Updated Apr 26, 2022 at 4:50 p.m. UTC

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

Twitter (TWTR) shouldn't have an overlord, its founder and on-again-off-again CEO Jack Dorsey tweeted late Monday night. But if it must, then Elon Musk, the richest man in the world, is as good as it gets.

"Elon is the singular solution I trust," Dorsey said of the social media company's impending change in ownership. Earlier Monday, Musk, the Tesla (TSLA) CEO, prevailed in his bid to take the company private for $54.20 a share.

Dorsey, a bitcoin (BTC) maximalist, preceded his statement with an ode to decentralization: "In principle, I don’t believe anyone should own or run Twitter. It wants to be a public good at a protocol level, not a company. Solving for the problem of it being a company however," requires Elon, and Elon alone.

"Taking it back from Wall Street is the correct first step."

Dorsey's message follows a day of Twitterverse hand-wringing over the ramifications of a super-rich, bombastic billionaire grabbing control of his favorite megaphone. That debate could have an impact on crypto, too, as Musk has made his fondness for DOGE payments no secret.

For his part, Musk has pledged to prioritize free speech on Twitter, a message of open dialogue that Dorsey praised.

"Elon’s goal of creating a platform that is 'maximally trusted and broadly inclusive' is the right one. This is also @paraga’s goal, and why I chose him. Thank you both for getting the company out of an impossible situation. This is the right path ... I believe it with all my heart," Dorsey tweeted.






DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

CoinDesk - Unknown

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

Trending

1
CoinDesk - Unknown
Bitcoin Dips Under $20K on Blunted Growth Sentiment as Spain Fuels Inflation Concerns

Traders assessed revived concerns of rampant inflation and growth for the coming months.

CoinDesk - Unknown
2
CoinDesk - Unknown
First Mover Asia: Remember ICOs? You Would Have Made a Fortune if You HODLed; Bitcoin Slogs Toward $20K

Investors who purchased a breadbasket of blue chip coin offerings about five years ago would have generated an 819% return, even with the current bear market; most cryptos fell in Tuesday trading.

CoinDesk - Unknown
3
CoinDesk - Unknown
Compass Mining Seen Losing Maine Facility After Failing to Pay Power Bill

The most valuable crypto stories for Tuesday, June 28, 2022.

CoinDesk - Unknown
4
CoinDesk - Unknown
Crypto Jobs: Who’s Cutting and Hiring?

A running reckoning to layoffs and hirings in the cryptocurrency/blockchain industry.

CoinDesk - Unknown