Tesla CEO Elon Musk seems to be realizing one of his biggest thoughts today. Twitter has officially announced that it has accepted Musk’s offer to buy the publicly traded company at $54.20 per share, valuing the social media platform for $44 billion. With the effect of the news, Dogecoin (DOGE), which Elon Musk is a fan of, rocketed, while the leading crypto Bitcoin again rose above $ 40 thousand.
Twitter approves acquisition, Dogecoin skyrockets
Twitter’s Independent Chairman Bret Taylor said of the deal, “The Twitter Board has considered Elon’s offer thoughtfully and comprehensively to evaluate it with a focus on value, certainty and financing. carried out a process,’ he said. Bret Taylor stated that the proposed offer would provide a substantial cash bonus and they believe it is the best course of action for Twitter’s shareholders.
Twitter said the transaction, which was unanimously approved by its board of directors, will likely terminate this year after shareholder and regulatory approval and ‘other traditional closing conditions are met’. Until these issues are resolved, the deal is not yet fully finished. However, after the news of the acquisition was officially accepted, Elon Musk’s girlfriend Dogecoin (DOGE) literally exploded and suddenly increased by over 20%.
Dogecoin daily price chart / Source: CoinMarketCap As you can follow from cryptokoin.com news, the Twitter/Musk buy dance was quite short, especially considering the size of the deal. When Elon Musk, who is a fan of the meme coin Dogecoin, first posted on Twitter to make a lot of pointed comments on social networks and Twitter himself and what happened, that is, less than a month
Elon Musk, according to experts, a longtime Twitter power user, which means he’ll likely approach this as more of a game of arrogance by investors, or a purely financial game. Market expert Ingrid Lunden has this to say about Elon Musk:
She has ideas. And even if you don’t like him, you have to admit he’s smart. There may be plans to turn Twitter into a larger and more profitable business. Or, he may have already decided that Twitter is much more fun as an expensive toy and a lever to nurture other interests. Whichever it is, whatever he wants, he will now have a spokesperson he can control at will to follow up as he pleases.
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