Elon Musk, who bought 9.2% passive shares from social media giant Twitter, is now offering to buy all shares of Twitter. It seems that Dogecoin supporters see the news as a bullish signal. Here’s why…
Elon Musk offers to buy full Twitter shares at $54.20
Tesla’s CEO and company’s largest shareholder Elon Musk offers $54.20 cash per share to take over Twitter it did. If this acquisition takes place, the total cash value will be $41.3 billion. As we reported as Kriptokoin.com, a slight increase was seen in the price of Dogecoin after Elon Musk implied that he would open his own social media platform on Twitter. Days after this development, Tesla CEO bought a 9.2% passive stake in Twitter. Deltaone on Twitter quotes Musk’s latest proposal in the tweet below.
Elon Musk offered to buy all shares for $54.20 per share.
Also among rumors, if Musk’s offer is turned down, a firm there will be a need to rethink his role as a stakeholder and a breakup may be in question. Twitter shares rose 13.6% in premarket trading on the news. Tesla’s premarket share price fell 1.4%.
Musk needs Twitter to be a private company to make the necessary changes thinks it should. According to the tech billionaire, Twitter has the potential to be a worldwide forum for free speech. More than 9% of Twitter’s shares were bought by Musk, making him the company’s largest single shareholder. When offered a seat on the board, Musk turned it down.
Tesla CEO Elon Musk has been sued by other Twitter shareholders for failing to disclose his ownership in TWRT until the recent spike in stock prices. When considering joining the board, Musk offered to accept DOGE payments for Twitter Blue subscriptions and suggested introducing an “edit” button.
Dogecoin price skyrocketed
The possibility of Elon Musk’s use on the new social media platform, accompanied by such news, makes the Dogecoin price rallies independent of the market. In the latest development, the last 24-hour gains in the altcoin market are hovering around 3% on average, while Doge has completed the following independent rise. At the time of writing, it is trading at $0.1448.
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