Frankfurt: The European Central Bank (ECB) has expanded its digital presence by joining Bluesky, a micro-blogging platform and a growing rival to Elon Musk’s X. This move comes as Musk intensifies his political engagements across Europe.
Bluesky, one of several platforms challenging the dominance of X (formerly Twitter), has gained traction since Musk acquired X and began using it to advance political narratives. Recently, Musk publicly endorsed a far-right party in Germany, stirring political debates.
An ECB spokesperson explained that the institution is diversifying its social media footprint. “We started using several new platforms last year, with Bluesky being the latest addition,” the spokesperson said. The ECB debuted on Bluesky by sharing an interview with its chief economist, Philip Lane. However, it confirmed that X would remain a part of its communication strategy.
Musk’s Influence and Controversy
Musk’s ownership of X has drawn scrutiny for its role in spreading misinformation. Critics say the platform facilitated the dissemination of falsehoods during Donald Trump’s successful 2023 U.S. presidential campaign.
Last week, Musk hosted Alternative for Germany’s leader on X, prompting the European Commission to monitor for potential misinformation. He has also expressed support for Italy’s right-wing Prime Minister Giorgia Meloni, raising concerns among his critics.
Despite Musk’s claims of championing environmental causes, he has aligned himself with Trump, who has dismissed climate change as a “hoax”. Musk has also criticized diversity and inclusion initiatives, adding to his controversial stance on social and environmental issues.
ECB’s Stance and Bluesky’s Growth
Under President Christine Lagarde, the ECB has championed gender equality and climate action as part of its broader mission. By expanding to platforms like Bluesky, the ECB signals its intent to engage with diverse audiences while maintaining transparency.
Bluesky has seen modest growth, with 2.5 million new users joining in the week following Trump’s election. However, its user base remains limited at 27 million, compared to competitors such as Threads (252 million monthly active users) and X (317 million monthly active users), according to Sensor Tower data.
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While several organizations, including The Guardian, have abandoned X, the ECB remains committed to leveraging multiple platforms. Despite its growth, Bluesky faces challenges, including allegations from EU regulators last year that it violated transparency rules by withholding critical information, such as its user base within the bloc.
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The ECB’s foray into Bluesky marks another step in adapting to a shifting digital landscape while navigating the contentious environment surrounding social media giants.
