Oak MuskCurrently the largest shareholder of Twitter Presented to the company’s board of directors a series of changes in the premium subscription service of the social media giant – including a reduction in the price and the possibility for users to pay using the cryptocurrency DogeCoin. The currency, in response, is climbing about 5% to 15 cents. It is still a crash of close to 80% since its peak in May last year, when it soared to about 63 cents per coin.
Launched last June, the Twitter social service is the social media giant’s first subscription service, designed for those willing to pay for exclusive access to special features, such as “Tweet Cancel”, customize icons and add bookmarks.
In a series of tweets on Saturday, Musk presented his ideas for change, including eliminating advertising awareness and marketing content. Musk also opened a survey on his Twitter account, a move he has made in the past, to ask his more than 81 million followers whether the company’s headquarters in San Francisco should be converted into a homeless shelter, since “no one shows up (for work).” The poll received more than 300,000 votes per hour, with 90% answering in the affirmative.
When Musk referred to the payment for the premium subscription, he wrote that in his opinion the pricing “should be proportional to the reasonable price and in the local currency, perhaps even an option to pay at the Doge?”, He suggested, referring to the digital currency DogeCoin.
The billionaire CEO of Tesla And SpaceX is a prolific user of Twitter and often elicits significant market movements through its tweets. A notable example of this is Musk’s 2018 tweet about his intentions to sell Tesla and turn it into a private company, which led to drastic fluctuations in stock value and eventually Musk was fired as chairman, in addition to the U.S. Securities and Exchange Commission’s lawsuit filed against investors.
Musk recently criticized the social network and its policies, arguing that they undermine democracy by non-compliance with the principles of freedom of expression: “Given that Twitter serves as a de facto public city square, non-compliance with the principles of freedom of expression fundamentally undermines democracy,” he said. Musk in a tweet from last weekend.