Elon Musk says he can stop the fall of the cryptocurrency market

In recent weeks, the news of the bankruptcy of Silvergate and Silicon Valley Bank (SVB) has triggered a significant drop in the cryptocurrency market. For bravado purposes or for reasons unknown to most, Musk said that Twitter could buy out SVB to stop the market panic.

I’m open to the idea

— Elon Musk (@elonmusk) March 11, 2023

It is worth noting that such plans are being considered by a large number of large funds and IT market players, for whom the general market problems and the subsidence of stock prices on the exchanges create even greater problems, as Denis Dovgopoly, founder of Unicorn Nest and a well-known opinion leader, said on Twitter.

«Okay, I’m going to bed, but I will say that the magpie brought me a message that top funds and entrepreneurs after the exit are now discussing the possibility of buying out the exchange and pumping it with money. I’m not sure if they will be able to come to an agreement, but there is a chance

— Denis Dovgopoliy (@dennydov) March 10, 2023

This option seems more plausible — due to its own financial problems, Twitter cannot pay for its offices on time and it is not the first time it has sold office equipment.

Experts are sure that Musk is just trolling the community and the panicking market — he does not have such free assets — SVB’s assets were in the region of 212 billion in the fourth quarter of 2022.