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Musk's currency suddenly rises on the impact of the Twitter deal


Musk's currency suddenly rises on the impact of the Twitter deal

What happens when Musk buys Twitter?

What is the big deal about Elon Musk buying Twitter?

Where did Musk get the money for Twitter?

While the major digital currencies are retreating amid a violent wave of pressure sweeping the cryptocurrency market led by Bitcoin, which is trading near the levels of 38 thousand dollars.

The most popular Dogecoin meme seems to have found a reason to bark again, as speculation mounts that Elon Musk's takeover of Twitter is within hours.

Dogecoin now

The Dogecoin rose DOGE/USD, coinciding with the flow of news about the imminent possibility of completing the deal, to jump from the bottom of $0.123 to the current levels of $0.1412, an increase of 14% in less than an hour.

The rise of the Dogecoin coincided with a huge increase in the volume of trading in the dog currency adopted by Elon Musk, which recorded 1.75 billion dollars against an average trading volume over a week in the range of 500 million dollars.

Twitter deal

Shares of Twitter, owned by Elon Musk, jumped 9.2% in pre-session trading on Monday, after reports that the company was ready to accept Elon Musk's takeover offer.

According to the news, Twitter is reconsidering the takeover offer of the company made by American billionaire Elon Musk for $ 43 billion.

Twitter is expected to approve the deal that Musk submitted after disclosing sources of funding, obtaining 46.5 billion dollars in financing from US banks, in addition to Musk's pledge to provide 21 billion dollars.

Elon Musk said he raised more than $46 billion to fund his bid to buy Twitter, from Morgan Stanley (NYSE:MS) and Bank of America, according to a securities filing.

Elon Musk

Days before Musk acquired a stake in Twitter shares, he expressed his intention to include the digital currency in the tips system on Twitter or any other platform he owns.

A few days ago one of Elon Musk's followers said: "One of the best things about Elon Musk whether he's buying Twitter or starting his own platform is that you know there's going to be Dogecoin for tips!