Elon Musk’s takeover bid for the social network has been approved by Twitter’s board of directors. At the same time, dogecoin (DOGE), whose value was already rising due to rumors about the certification of the operation, increased its value by almost 9%. Now its growth is about 19%.
Twitter’s takeover bid and its effects on DOGE approved
With market capitalization estimated at nearly $ 8.9 billion, DOGE into the family of the most prominent cryptocurrencies. In fact, at the time of writing this topic, it is traded for about 0.685 cents and ranked tenth in the ranking of cryptocurrencies (CoinMarketCap).
Why is DOGE growing? The answer: the actions taken by Elon Musk in favor of cryptocurrency. On June 21, he said it was logical introduction of cryptocurrency payments on the social network Twitter.
For him, DOGE is the best cryptocurrency to use for such a project. Subsequently, when word came that Musk was accepting a Twitter takeover offer, prices were raised.
Twitter will be paid for some accounts
Regarding payments on Twitter, it is very likely, according to statements from Elon Musk, that the social network will become paying for some of its users. According to the entrepreneur, ordinary users will continue to use the network for free. On the other hand, the government accounts and commercial accounts you will have to pay a certain undefined amount.
At this time, Musk himself has not commented on the news that the takeover bid has been approved. It should be noted that the operation had to be carried out for several months. As a first step, however, Musk wanted to explore some Twitter bots. Then there were rumors of a possible law between Elon Musk and the members of Board of Directors.
Anyway, legal or not, for now, the news is certain: Elon Musk will be the new boss of Twitter. This information alone is sufficient to have far-reaching effects on DOGE.
Billionaire Elon Musk is set to become a new strong man on Twitter. In fact, the board of directors officially accepted its recommendation to buy the company. As a result, the cryptocurrency market is feeling the effects, especially with DOGE rising in value in the last few days following this news.
Source: CryptoNews
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