Mooners and Shakers: Twitter board approves Elon Musk takeover; DOGE and other cryptos bounce
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Crypto is having a better day in general, and Twitter knows it. Speaking of which, DOGE fan Elon Musk looks set to take over the social-media giant at last.
The closest thing the world has to a real-life Tony Stark (if that’s what the world wanted) has been hogging the headlines lately, and so it continues.
Elon Musk appears to finally be close to completing his US$44 billion takeover of Twitter, with the company’s board of directors today unanimously approving his buyout offer, according to a Securities and Exchange Commission filing.
The regulatory filing comes a few weeks after the Tesla and SpaceX CEO put the deal on hold pending a review of Twitter’s policies regarding bots and spam accounts. And it comes just days after he held a virtual meeting with all Twitter employees.
Is it bullish for crypto, then? Maybe. The crypto market has been known to react well to any perceived Elon Musk win, although the industry has also seen major mood-swing dumps in the past based on the whims of the billionaire’s Tweet-happy thumbs.
But just this week, Musk has confirmed he’s buying the crypto dip amid the recent carnage. Specifically, the Dogecoin (DOGE) dip (which is actually up about 13% today).
He’s clearly not concerned about the US$258 billion lawsuit some chancer filed against him last week in a US federal court, which relates to a supposed Dogecoin pyramid scheme.
Musk doubled down on his latest DOGE support with further confirmation today in a video interview with Bloomberg:
“I intend to personally support Dogecoin, because I just know a lot of people who are not that wealthy who have encouraged me to buy and support Dogecoin — so I’m responding to those people,” said the tech billionaire.