The best hypothesis I've heard is that he was trying to secure the raw materials that Tesla's stock price is made out of.
Twitter is influential to the concerns of Musk's competitors and potential regulators who might stand in his way.
Regardless of its deflated value, (all assets were way puffed up) Twitter is still extremely valuable.
Arguably, it is still positioned to be worth more than Facebook.
The best hypothesis I've heard is that he was trying to secure the raw materials that Tesla's stock price is made out of.