Tesla CEO Elon Musk seems to have realized one of his biggest thoughts today. Twitter has officially announced that it has accepted Musk’s offer to buy a public company at a price of $54.20 per share, which values the social media platform at $44 billion. Under the influence of the news, Dogecoin (DOGE), of which Elon Musk is a fan, has skyrocketed, and the leading cryptocurrency Bitcoin has risen above 40 thousand dollars again.
Twitter Confirms Acquisition, Dogecoin Grows Rapidly
“The Twitter board has conducted a thoughtful and thorough process of evaluating Elon’s proposal with an emphasis on value, credibility and funding,” said Bret Taylor, Twitter’s independent chairman of the board. Bret Taylor stated that the proposed offer would provide a substantial cash bonus and they believe it is the best way for Twitter shareholders.
Twitter said the deal, which was unanimously approved by its board of directors, is likely to be terminated this year after shareholder and regulatory approval and “other traditional closing conditions are met.” Until these issues are resolved, the transaction is not yet fully completed. However, after the news of the acquisition was officially accepted, the Dogecoin (DOGE) rate of Elon Musk’s girlfriend literally exploded and suddenly grew by more than 20%.
What about Elon Musk’s Twitter plans?
As you can understand from the Somanews news, the dance of shopping on Twitter and the Mask was quite short, especially considering the size of the deal. More than a month ago, when Elon Musk, a fan of the Dogecoin meme coin, first tweeted a lot of spot comments on social networks and Twitter itself, as well as about what happened.
According to experts, Elon Musk is a long-time active Twitter user, which means that investors are likely to treat him more like a vain or purely financial game. Market expert Ingrid Lunden says this about Elon Musk:
They have ideas. And even if you don’t like him, you have to admit that 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 interesting as an expensive toy and a lever for the development of other interests. Whatever it is, whatever he wants, he will now have a representative whom he can control at will to follow what he pleases.