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On October 4, the DOGE memecoin experienced a price surge due to Dogefather – Elon Musk remained interested in acquiring Twitter under the original terms of the deal.
Musk is ready to close the deal with Twitter
Elon Musk’s deal to buy Twitter is finally continuing.
As reported by Bloomberg on October 4, Musk’s legal team sent a letter to Twitter, proposing to buy the social networking giant at an initial deal offer of $54.20 per share.
The Tesla/SpaceX CEO offered to acquire Twitter for $44 billion in April because he believed it had failed to protect freedom of expression and thus infringed on democracy.
However, he canceled the deal a few months later, citing concerns about the large number of bot accounts on the platform. He also believes that the information provided by Twitter is untrue and misleading.
Twitter’s board then filed a lawsuit against the eccentric billionaire for breaking his contract, demanding a $1 billion fine.
Musk’s new acquisition offer comes as the Tesla chief has been sued by a Twitter lawyer as the social media company gets ready for a trial over the billionaire’s “spinning of the car.”
DOGE get the biggest benefit ever?
The resurgence of the buyback deal has thrilled the bulls. Twitter shares jumped 15% on the news, reaching $49.81 before falling to around $47.96 in late trading.
Musk’s favorite cryptocurrency, Dogecoin, is also up over 8.7% on the report, currently trading at $0.06452.
The love story of Musk and Dogecoin over the years has always been hot and intense. The Tesla CEO tweeted about DOGE, repeatedly causing the price of the token to skyrocket.
Just before he hosted SNL in May 2021, the event took Dogecoin to a high of $0.73. Musk has also worked with Dogecoin developers to make it a cheaper, more eco-friendly, and faster alternative to Bitcoin .
It’s unclear if there are any further obstacles to Musk’s deal to acquire Twitter. But if it succeeds, it could be a huge positive for Dogecoin cryptocurrency.
Dogefather previously mentioned integrating DOGE as a payment option on Twitter, along with a suggestion to use the coin meme to weed out bots and scammers.
>>> Related: Twitter accused of lying about bots with Elon Musk, CEO Parag Agrawal speaks out
