Elon Musk has bought Twitter, so Dogecoin could become the platform's most important cryptocurrency.
In an unexpected turn of the negotiations, Twitter has reached a definitive agreement to sell its shares to Elon Musk. The billionaire, owner of Tesla and SpaceX, made a $41.000 billion offer for the company eleven days ago.
Initially, Twitter refused the purchase, activating a “poison pill” to protect itself from the offer. However, over the weekend, Elon Musk announced that he had achieved raise $46.500 billion to buy the company, which forced the leaders to reconsider the offer.
Thus, after the discussion of the managers, the agreement between the two parties closed today, for a total of 44.000 million dollars. Twitter's board of directors, which met yesterday Sunday to analyze Musk's latest offer, accepted that the billionaire will buy the remaining shares of the company for $54,2 each.
Twitter made the agreement official late this Monday, closing the purchase and the news cycle that began when Musk publicly revealed the purchase of a 9,1% stake in the company. In the press release, Musk, who now owns Twitter, again mentioned his plans to make the social network's algorithms open source, to improve trust and ensure freedom of expression within the platform, in order to to unlock your full potential.
The purchase of Twitter by Elon Musk has caused the company's shares to skyrocket 5,66% this Monday, exceeding $51,7 per share.
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Could Dogecoin become Twitter's currency?
Before leaving his position as CEO of Twitter, Jack Dorsey was working to incorporate Bitcoin and cryptocurrencies into his platform. In this sense, some functionalities were implemented such as “Tip Jar”, which allowed users send “tip” in Bitcoin to other users, as well as the implementation of Ethereum NFTs as profile images for premium account users on Twitter Blue.
Elon Musk, for his part, has been one of the main supporters of Dogecoin, boosting the price of the memecoin every time he publishes a tweet about it.
In this sense, how could Dogecoin be implemented in Twitter dynamics? One of the simplest ways would be to expand the functionality of “Tip Jar”, allowing users tip also with $DOGE.
The implementation of Dogecoin to Twitter dynamics would allow the platform move towards decentralization. In fact, Musk himself pointed out in a TEDTalk that his plans include publishing Twitter code on Github to involve users in making improvements, as well as including payments in Dogecoin for Twitter Blue.
The price of DOGE has skyrocketed 22,9% in the last 24 hours, trading at a value of $0,16 per unit.
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Note: This article was updated to report that Twitter's board of directors accepted Elon Musk's offer of $44.000 billion to purchase the company on Monday and that the price of DOGE in the market has skyrocketed more than 22% in the past few weeks. last hours.
