Doge Is Eating the Blue Bird | Twitter Agrees on Musk’s Takeover with Open-source Algorithms and Dogecoin Payment
American social media Twitter announced on April 25th local time that the board has agreed on Tesla, Inc. Founder, billionaire Elon Musk’s takeover of Twitter and the proposal to privatize it.
According to the press release published by Twitter, the deal was settled at a price of 44 billion U.S dollars, 54.20 dollars per share. Twitter in turning into a private company.
Musk has made a brief announcement on Twitter, saying
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.”
“I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”
Musk’s proposed acquisition of Twitter was unanimously approved by Twitter’s board of directors and is expected to close later this year. Musk has secured $25.5 billion in fully committed debt and margin loan financing and will provide about $21 billion in equity commitments to complete the deal, the statement said.
Bret Taylor, the chair of the board at Twitter stated that:
“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing,”
“The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.”
“The takeover, if it goes through, would mark one of the biggest acquisitions of a tech company and will likely affect the direction of social media,” remarked Wall Street Journal. The takeover is likely to affect the interaction between billions of people around the globe and social media in the next few decades.
Dogecoins
Dogecoin (DOGE) price bumped 27% when the news came out.
Musk has always been a Dogecoin supporter. Other than constant hypes on Dogecoins, his company Tesla, Inc. is one of the biggest Bitcoin investors. Earlier this month, Musk has made a series of proposals for Twitter Blue subscription, including lowering price, prohibiting ads and Dogecoin payment support.
Dogecoin founder Shibetoshi Nakamoto tweeted several functions that he wishes to add on:
While Musk responded:
“First one definitely, second is nice to have and third isn’t needed imo.”
Dogecoins will be on Twitter, sooner or later. However, a series of unsettled questions arise:
>Who will be the new Twitter CEO?
>What extent of control will Musk have on Twitter?
>How does Musk plan to achieve free speech?
Dogecoin has gone trending, and it’d probably be a nice short-term investment.
Also, here comes a chance to gain 5 free Dogecoins. As easy as playing Twitter. >> t.ly/BpuM <<
Sources
https://fortune.com/2022/04/25/twitter-elon-musk-takeover-bid-deal/
https://www.wsj.com/articles/twitter-and-elon-musk-strike-deal-for-takeover-11650912837
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