Saturday, June 10, 2023

Dogecoin’s Benefit After Twitter Buy


Dorsey tweeted Monday that taking it back from Wall Street is the correct first step. Also, he’s not alone in this sentiment.

Jack Dorsey, Twitter’s founder and on-again-off-again CEO, wrote late Monday night that the social network should not have an overlord. Elon Musk is the best alternative.

Moreover, “He is the sole solution I trust,” Dorsey said of the social media’s anticipated change in control. He also won his legal battle earlier today. This is to take Tesla private for $54.20 per share.

Bitcoin Maximalist

Before he made his comments, Dorsey, a bitcoin maximalist, made an ode to decentralization. He don’t think anyone should own or run Twitter in principle. It aspires to be a protocol, not a business, for the benefit of the general public. However, in order to address the issue, only Elon is required to do this task. He believes that the first step is to seize it from Wall Street.

Dorsey’s remark comes after a day of hand-wringing on Twitter. This is over the consequences of a super-rich, bombastic billionaire seizing control of his favorite megaphone. Even though Musk has made it clear that he is a big fan of DOGE payments. This discussion could have an impact on crypto as well.

When it comes to free expression on Twitter, Elon Musk has committed to make it a top priority. Which is a statement that Dorsey applauded.

Elon Musk is on the right track. Specially when he says he wants to build a platform. The @paraga’s goal is likewise mine that’s why I choose him. Please accept our gratitude for rescuing our organization from a perilous predicament. He’s very certain this is the right move.

Dogecoin Father

A few hours after rumors of Musk’s takeover of Twitter circulated, the cryptocurrency market began to rise.

CoinMarketCap data shows that Doge was up 22.14% at $0.162 at 01:10 am IST on Tuesday. Just a few minutes after the public learned about Elon Musk’s Twitter takeover, this occurred.

Musk paid $44 billion for Twitter. With this acquisition, Twitter has acquired its single largest individual stakeholder. Since the volatile billionaire entrepreneur declared publicly his over 9% ownership in the microblogging website almost a month ago.

When Twitter subsequently invited Musk to join its board of directors, the latter declined. In a filing with the US Securities and Exchange Commission (SEC). He revealed that he had made a bid to acquire Twitter.

Elon Musk has reportedly secured $46.5 billion in funding for Twitter’s acquisition earlier today.

Definitive agreement to be bought by Elon Musk. For $54.20 per share in cash in a transaction valued at about $44 billion. Done by Twitter in a statement. Twitter will be reclassified as a “privately held corporation” following the completion of this deal.

Cryptocurrency prices tend to rise when Elon Musk’s name is mentioned. This isn’t the first time this has happened.

Thanks in part to Musk’s remarks, the token has seen multiple rallies.

Elon Musk recently proposed a number of enhancements to the microblogging service Twitter. A possible payment option is Dogecoin. When it comes to the social networking site. Seeing how Elon Musk adds Dogecoin into the Twitter environment would be interesting.

Ivan Cruz
Ivan Cruz
Ivan Cruz is a writer for Cryptoconstellation. He has his Masters in Applied Research in Economics & Business. Ivan has been trading crypto for the past 7 years himself and feels it is his duty to bring you all the latest news.

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