Dogecoin showed a brief surge on news of Elon Musk’s bid to take Twitter private; meanwhile Justin Sun now wants to buy Twitter at a higher price
After Elon Musk disclosed his offer to buy 100% of Twitter shares at $54.20 per share, the price of his favorite cryptocurrency—Dogecoin—went up nearly 6%, printing two big green hourly candles on charts.
It fell from $0.1392 to $0.1475. At present, however, Dogecoin is back at $0.1451.
Musk offers to buy Twitter
The biggest Dogecoin fan, Musk, offered to buy Twitter for $41 billion in cash since, according to the SEC filing, he sees great potential in turning the microblogging company into a platform for free speech around the world.
To do this, Musk says, the company needs to undertake some changes, and they can best be handled by a private company. Some speculate that Musk intends to fire Twitter’s current management if his offer is accepted. Twitter is thinking about it right now.
Some believe, however, that Musk has made this offer to get rid of his Twitter stock at a price higher than when he bought his 9.2% stake. If his offer is rejected, he stated that he will have to reconsider his position as a shareholder.
Twitter’s share price fell from EUR 41.96 on the news to EUR 47.46. Currently, TWTR is trading at EUR 45.08 per share.
Justin Sun offers a higher price per Twitter share
Former Tron CEO Justin Sun has also offered to buy Twitter after the news of Musk’s offer was announced. Sun offered $60 per share.
In a Twitter thread, Sun made it clear that he wanted to move Twitter overseas and decentralize its workforce. Additionally, he wants to transform Twitter into a “more open and decentralized, open-source and developer-friendly Web3 framework.”
Earlier, when Elon was invited to join the Twitter board (which he rejected), he proposed accepting Dogecoin for Twitter Blue premium subscriptions.
