Will the New Twitter Investor Remove Jack Dorsey, a Bitcoin Proponent, from His Twitter CEO Position?
A recent report confirmed that Elliott Management Corp secured a significant stake in the social media platform, Twitter. There are claims that the new investor is planning to remove Jack Dorsey from his Twitter CEO position.
Elliott management recently appointed four of its representatives to be part of the Twitter’s board. As per the report, Elliott’s problem with Dorsey is that he splits his efforts between working for the success of Twitter, and his payments processor, Square Inc.
More About Jack Dorsey
Dorsey has been an advocate for Bitcoin, which explains why the crypto community likes him. For instance, he recently integrated a Bitcoin emoji feature on Twitter, which the crypto community gladly embraced. Dorsey also developed a dedicated unit within the Square platform to help advance Bitcoin’s technology.
Dorsey’s time as Twitter’s CEO faced criticisms over his management style, and over this period, the stock dropped by 6%, while its competitor, Facebook, witnessed a 21% rise in its stock. At the time of writing, there is no official confirmation from either Jack Dorsey or Elliott on the matter.