Dogecoin Rallies on Elon Musk’s Twitter Acquisition Proposal

Dogecoin Rallies on Elon Musk’s Twitter

Dogecoin has jumped 5.4% to about 17 cents after Elon Musk offered to acquire Twitter for $41.39 billion and hints at the possibility of integrating DOGE.  

An application sent to the chairman of the social company board, Bret Taylor, shows that the billionaire has expressed interest in buying the firm and taking it private.

Musk added that his offer was the best and final bid, saying that the social media platform has unexploited potential that can be tapped through privatization.

Twitter has acknowledged Musk’s offer saying that it would be reviewed and a decision made in the best interest of the firm’s shareholders.

The founder of Tron blockchain, Justin Sun, has countered the offer with a proposal to purchase the company for $60 per share.

Musk acquired a 9.2% stake in Twitter last month for about $2.89 billion, becoming the largest individual shareholder. Musk later changed his plans to join the board of the company.

Source: Cryptobriefing

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