Will Crypto Twitter move to Meta’s Threads?

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Last Updated on 4 March 2024 by CryptoTips.eu

The fact that billionaires Mark Zuckerberg (CEO of Meta, formerly Facebook) and Elon Musk (CEO of Twitter) are trying to organize an MMA (mixed martial arts) fight is probably no coincidence. It is supposed to happen just as Meta launches a Twitter rival called Threads.

As crypto is very popular on Twitter where many influencers reside, we have been pondering whether we should also create a Threads account. However, considering Meta’s recent history regarding crypto, and intermittently that of Zuckerberg himself, we’re probably better off sticking with Twitter (for now).

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Libra and Metaverse

Zuckerberg is known for making some bad choices in recent years that cost his company a lot of money. For example back in 2020 there was the launch of Facebook’s own crypto coin Libra, which was announced with great fanfare but never actually happened. After a name change to Diem, the project was finally buried in 2022.

Last year, a name change from Facebook to Meta took place, and Zuck promised his company would focus on Metaverses, virtual worlds we would all like to live in. That has also turned out to be a flop so far, although Apple has partly followed suit with the announcement of their own Vision Pro (although so far orders for that product have been disappointing).

This year Zuckerberg, just like Musk over at Twitter, is mainly focused on making his company more efficient (aka he’s cutting the workforce), and that has earned him a lot of points with investors. Now he came up with a new project called Threads, which is supposed to act as a direct rival to Twitter.

According to the screenshots that have already been released, Threads indeed looks like Twitter. It is of course Zuckerberg’s tried and tested tactic to simply copy successful projects. For example, Instagram launched Stories in 2016, which was very similar to Snapchat. Reels, which should function as little videos on Meta, reminded a lot of people of TikTok when it was announced in 2021.

Beginning

Given that social media is very important for crypto as a whole, and for memecoins like Dogecoin for example in particular, many influencers from the crypto Twitter community wonder if they should follow and switch over to Threads.

At the moment, the answer is a rather negative one also because Threads’ launch in Europe has to be delayed dye to privacy concerns. But it’s early days of course.

chetroni / Depositphotos.com

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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