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HomeOtherMoreDogecoin jumps 20% as Twitter accepts Elon Musk's $43 billion offer

Dogecoin jumps 20% as Twitter accepts Elon Musk’s $43 billion offer

A deal to sell Twitter to Elon Musk for around $43 billion in cash has been finalised, a price Elon Musk called his “best and final” offer for the social network.

Twitter has announced the $54.20-per-share deal earlier today after its board met to recommend it to shareholders.

Musk, who Forbes ranks as the world’s richest person, negotiated to buy Twitter in a personal capacity and Tesla is not a party to the deal.

Dogecoin (DOGE) surged by 20% today after news broke put that Elon Musk was close to buying all of Twitter.

Earlier Twitter’s stock had gained over 5% to over $51.50. However, it remains below Mr Musk’s offer price of $54.20 per share.

At writing time, DOGE was trading at approximately $0.16, a substantial jump from the $0.12 level in Asian morning hours. Futures trading on Twitter (TWTR) jumped over 10% in Frankfurt.

Dogecoin tokens and Musk’s takeover of Twitter are not directly related. Analysts, however, say Musk’s repeated endorsement of Dogecoin attracts speculation from crypto investors hoping the memecoin will be included in Twitter’s long-term plans.

Earlier this month, Musk hinted that Twitter Blue, the site’s premium subscription service, would accept dogecoin as payments.

DOGE is already accepted by Tesla on its online store. Musk has also previously supported dogecoin adoption and development, as seen in Musk’s tweet from May 2021 in which he said he was working with dogecoin developers to improve system efficiency.

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