DOGE’s price surges when Elon Musk offers to buy 100% Twitter

DOGE’s price surges when Elon Musk offers to buy 100% Twitter

In the 10 minutes after Elon Musk’s announcement, Dogecoin (DOGE) gained its market value by approximately $1 billion, rising from $18.44 billion to $19.36 billion. DOGE’s price jumped from $0.139 to $0.1459 at the same time, with a $140 million increase in volume.

Elon Musk has made an offer to acquire 100% of Twitter only days after announcing his leaving from Twitter’s board of directors.

Elon Musk, who owns more than 9% of Twitter’s stock and is the company’s largest shareholder, sent the company a letter on Wednesday with a proposal to acquire the remaining shares of Twitter, according to a regulatory filing on Thursday. Musk made an offer of $54.20 per Twitter share.

“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.

However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.

I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” Musk said in a statement.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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