A deal they couldn’t pass up- On April 14, 2022, the mercurial Elon Musk revealed to his audience that he had made an offer to Twitter: he would purchase back all of the social network’s shares. It’s been done since April 25: the blue bird has succumbed to the approach of the Dogecoin fan (DOGE) by accepting his generous offer.
In the name of freedom of expression, Twitter was purchased for $44 billion.
Will Twitter’s freedom of expression be restored soon? In any event, this is the reason Elon Musk cited when he began by purchasing 9.2 percent of the social network’s TWTR shares: 70% of his 2 million fans who answered to his poll believe Twitter does not rigorously protect free expression.
But it wasn’t enough, and the billionaire declined a spot on Twitter’s board of directors because he had another plan. As a result, Tesla and SpaceX CEO Elon Musk has offered to buy back all of TWTR’s more than 800 million shares for a unit price of 54.20 dollars.
In a press statement dated April 25, 2022, Twitter announces in a press statement that it has achieved a final deal with Elon Musk for his 100 percent takeover of the firm. And this at the previously proposed price, for a total transaction value of around 44 billion dollars.
In the next few minutes, the price of Dogecoin rises by 25%.
Elon Musk praised the historic takeover in a tweet, which would turn Twitter into a private corporation (not listed on the stock exchange) at the time of restructuring:
“Freedom of expression is the foundation of a functioning democracy, and Twitter is the digital public square where issues vital to the future of humanity are debated (…) I also want to make Twitter better than ever by improving it with new features, making algorithms open source to increase trust, defeating spambots, and authenticating all humans. “Twitter has enormous potential—I look forward to working with the company and the user community to unlock it.”
This news appears to have helped the billionaire’s favorite crypto-dog, Dogecoin, which features the famous and smiling Shiba dog. Indeed, the price of memecoin increased by about 25% following the Twitter press announcement, rising from 13.8 cents to a high of more than 17.1 cents.
It should be noted that Elon Musk was already talking about adding Dogecoin in the social network ecosystem just a few days after his first acquisition of roughly 10% of TWTR shares in early April. Indeed, the engineer-billionaire would want to accept DOGE as payment for subscriptions to Twitter Blue premium accounts.