NewsBTC 2022-04-04 23:59:18

Dogecoin Soared After Elon Musk Bought 9.2% Of Twitter, What’s Next?

Dogecoin (DOGE) had a boost that took it to an almost two-month high after Elon Musk bought a 9.2% in Twitter (a $2,8 billion stake) according to a Securities and Exchange Commission 13G filing released Monday, thus becoming the company’s largest shareholder. Will Elon Musk Buyout Twitter? The large buy by co-founder and CEO of Tesla, Elon Musk, seems to follow a recent Twitter poll made by himself where users expressed disconformity with the platform. “Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle? The consequences of this poll will be important. Please vote carefully,” Musk’s poll read, and over 70% of users responded ‘No’. Although he is very popular on the social media network, Musk has been an open critic of Twitter for a while now. He has flirted with the possibility of building his own platform. Now, he owns a stake four times bigger than the shares held by Twitter co-founder Jack Dorsey. Many expect this move to mean that Musk will be pushing a plan to adjust Twitter closer to his beliefs and lead to a buyout. Dan Ives, an analyst at Wedbush Securities, commented to The Guardian: “We would expect this passive stake as just the start of broader conversations with the Twitter board/management that could ultimately lead to an active stake and a potential more aggressive ownership role of Twitter.” Musk’s buy was re...

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