{"id":60609,"date":"2022-04-26T10:06:21","date_gmt":"2022-04-26T07:06:21","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=60609"},"modified":"2025-09-05T04:19:31","modified_gmt":"2025-09-05T01:19:31","slug":"elon-musk-to-buy-twitter-for-44-billion-as-dogecoin-jumps-24","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/elon-musk-to-buy-twitter-for-44-billion-as-dogecoin-jumps-24\/","title":{"rendered":"Elon Musk to buy Twitter for $44 billion as Dogecoin jumps 24%"},"content":{"rendered":"

Dogecoin (DOGE) surged on news that Twitter’s leadership planned to sell the social network to Elon Musk. Over the last 24 hours, the meme cryptocurrency rose 24.2%, according to CoinGecko<\/a>.<\/p>\n

By the evening of April 25, DOGE briefly traded at $0.17. The price has since corrected to around $0.15.<\/p>\n

\"Elon
Hourly chart of DOGE\/USDT on Binance. Data: TradingView.<\/figcaption><\/figure>\n

The sharp rally allowed Dogecoin to displace Polkadot from the 10th spot in the crypto-asset market-cap ranking.<\/p>\n

\"Elon
Data: CoinGecko.<\/figcaption><\/figure>\n

According to the press release<\/a>, Twitter’s leadership accepted Elon Musk’s bid to acquire the social network for about $44 billion. The Tesla chief will pay $54.2 per share \u2014 38% above their price as of April 1, when Musk acquired 9.2% of the shares<\/a> of the company.<\/p>\n

The deal is expected to close by the end of 2022. After that, Twitter will become a private company. Shares will be traded only on the over-the-counter market.<\/p>\n

To buy the social network, Musk allocated <\/a> $21 billion from his own funds. Another $25.5 billion was provided to the entrepreneur by a group of banks led by Morgan Stanley.<\/p>\n

Earlier, Twitter shifted its stance<\/a> on the billionaire’s offer. A new round of talks followed the filing with the SEC<\/span> documents showing financing of $46.5 billion.<\/p>\n

Independent chairman of Twitter’s board, Bret Taylor, said the board had carefully considered the takeover and concluded that this is the best outcome for shareholders.<\/p>\n

Commenting on the deal, Musk said he hopes his harshest critics will not leave the platform, “for that is what free speech means”.<\/p>\n

\n

I hope that even my worst critics remain on Twitter, because that is what free speech means<\/p>\n

\u2014 Elon Musk (@elonmusk) April 25, 2022<\/a><\/p><\/blockquote>\n