Elon Musk has purchased Twitter for $44 billion. Previously, Musk had a 9% stake in the company, which made him the single largest individual shareholder in Twitter. In a recent filing with the SEC, the US Markets Securities and Exchange Commission (SEC), Musk disclosed his bid to buy Twitter.
Musk kicked off with a budget of $46.5 billion to acquire Twitter. Eventually, Twitter on Monday announced that they have entered in to a “definitive agreement to be acquired by an entity wholly owned by Elon Musk, for $54.20 per share in cash in a transaction valued at approximately $44 billion”. Once this transaction is complete Twitter will become a “privately held company”.
On April 10, 2022, Elon Musk tweeted: Maybe even an option to pay in Doge?
It is Elon Musk’s Twitter now, what may happen now? Will Elon Musk incorporate Dogecoin in the Twitter Ecosystem? If he does this is going to be a huge leap for Dogecoin (DOGE) over again.
Matt Wallace: Elon Musk has massive plans for Dogecoin.
Musk, aged 50, is getting $13 billion in bank financing secured by the social-media company and the $12.5 billion backed by a pledge of $170 billion Tesla Inc. stake. However, he’s been short on details about how will fund the remaining $21 billion.
Reportedly, Musk being the world’s richest person, with a fortune of $257 billion, has just about $3 billion in cash and somewhat liquid assets. Musk will come out with money, but from where is the question. Will he find like-minded investors?
Previously, in a TED event Musk stated, “the intent is to retain as many shareholders as is allowed by the law.”
Musk made a statement at the TED talk that he “ doesn’t care about the economics.” This might scare off some potential investors.
Community Reaction: For every 1 person leaving Twitter because Elon Musk owns it. We probably have 5 new cool people joining and they will probably hear about Dogecoin a lot.
Dogecoin Price: The Elon Musk Euphoria keeps shaking the Dogecoin every now and then. With Musk buying Dogecoin, the price went up by 25% however, the risk of sell off continues to be there. Doge community are celebrating the buy, but Dogecoin is still nearly 77% down from its record high.
Those who know that Dogecoin might fall are trying to sell off their token to make some gains. Many of them were holding Doge for very long hoping to cash out. Perhaps, a substantial number of holders will want to take advantage of the current hype. And, staunch Doge believers are going to stay.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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