Twitter accepts Musk's acquisition proposal, Dogecoin surges more than 20%

On April 26, after the news that Twitter accepted Musk's acquisition proposal, the price of Dogecoin soared by about 27% on Monday afternoon (US time). Last year, Musk promoted Dogecoin on social media and became a promoter of the cryptocurrency market through his tweets about Dogecoin and Bitcoin. In May last year, his posts pushed Dogecoin to a record high of 67 cents. Earlier this month, Musk also made a series of suggestions for Twitter's Twitter Blue subscription service, including price cuts, banning advertisements, and allowing users to pay with Dogecoin. In addition, some large-cap cryptocurrencies also rose against the trend after the acquisition news was announced.

Tesla CEO Elon Musk will acquire Twitter for $54.2 per share in cash. The transaction is expected to be completed in 2022. After the transaction is completed, Twitter will become a privately held company. Twitter said that the proposed transaction will bring a considerable cash premium and Musk's proposal is the best option for holders. It will release its first quarter results before the opening of the market on April 28 and will not hold a conference call. Musk has obtained $25.5 billion in fully committed financing. In addition, Twitter CEO also said that Twitter has the vision and relevance to influence the world; he is deeply inspired by the work and proud of our team.