There is some speculation that Elon Musk will buy Twitter. There's other speculation about Musk starting his own micro-blogging platform to compete against Twitter.
Really though such a thing is not a binary choice. What I would like to see happen is someone whether it be Elon Musk or someone else with the money buying Twitter and then shutting it down while launching a new micro-blogging site. To me Twitter is just too toxic to try to ameliorate. It would be better to just shift the user database to a brand new site and start new. The old posts can be archived on a subdomain of the new site but I would lock it so nobody including the new site administrators can edit it. When people complain about the radical upheaval all that would need to be done is to point out that is what a centralized site gets you but Twitter has always been built on open source so go do your own thing and stop complaining.
Buying Twitter just to shut it down while starting a new platform doesn't mean abandoning the trademarks and other intellectual property. Twitter.com could be used to sell drones made to look like birds. The URL could be redirected to another site. Elon Musk could buy Twitter and have the twitter.com site look like that South Park parody is now a legitimate Neuralink product for the memes.