Elon Musk may not buy Twitter for 44 Billion dollars after all – according to reports today Musk is threatening to walk away from the deal – and he is citing “crypto scam bots” as one of his main reasons for doing so.
Musk has been waiting for Twitter to give him information on exactly what percentage of its users are “bots”. Twitter has said that around 5% of the platforms user base are “bots” – but admitted to the SEC that those estimates could be “low”. Musk himself has stated that he suspects the number could be much higher.
Anyone who has been on twitter ( “especially bitcoin twitter “) knows that there is a serious scam bot problem. Almost every video you watch that has anything to do with Bitcoin or cryptocurrency, has people in the comments with fake profile pictures asking to you contact them via some third application. Many people are annoyed by these constant scambots, but also many fall for them.
I think it’s fair that Elon wants to know exactly how much of twitter’s users are bots – especially since compared to other platforms globally, twitter doesn’t actually have THAT many users. Compared to Tiktoks 1 billion, or facebooks 3 billion – Twitters 330 million users might not sounds so enticing for 44 billion dollars if say, 30% of them were fake.
Twitter has turned over information about how they calculate bot accounts – but Musk wants more access to the data so he can independently verify. If Musk walks away from the deal entirely, he could have to pay twitter 1 billion dollars.
So a few questions remain. Will Elon eventually buy Twitter? How many twitter users are fake? Only twitter knows for sure, but I’m willing to bet that if we factor in Facebooks bots, Tiktoks bots & every other major platform in the world – there would be way more than 300 million of those. Scam bots & fake users are a big problem a