Elon Musk renewed his initial offer of $ 54.20 for Twitter, which he stopped buying due to bots. Dogecoin (DOGE) price is rising due to the integration plans of Musk, who is in court with Twitter during the acquisition process.
Elon Musk takes action again to buy Twitter
Elon Musk is offering to buy Twitter at the original bid price of $54.20 per share. Dogecoin was not the only one that rose after the news. Shares on Twitter rose as much as 18% with the news. The proposal to comply with Musk’s initial offer indicates the billionaire’s decision to buy the platform. It also means that Twitter’s claims about how much of it are bots won’t be reviewed in a courtroom.
The proposal eliminates some steps in the litigation process
Meanwhile, Musk had been trying to give up on his contract to buy Twitter, which he signed in April, for months. While he was eager at first, he began to show signs of regret soon after the deal was announced. He claimed that Twitter was sharing inaccurate data about how many of its users are bots. Musk then officially left the deal in July. Twitter management also took the case to court, claiming that Musk manipulated due to falling stock prices. The trial is scheduled to begin on October 17.
To prove Musk was right in the lawsuit, Twitter needed to show that it violated the terms of the settlement. Twitter claimed Musk’s crackdown on bots was an excuse to break the deal. Meanwhile, Musk’s legal team felt that the case was not going well, as the trial judge repeatedly sided with Twitter. Now, according to a court filing Tuesday, Musk will answer questions about the deal in Austin, Texas, October 6-7.
Dogecoin (DOGE) price jumps after news
cryptocoin.comAs you follow, secret messages emerged between Elon Musk and former CEO Jack Dorsey as part of the lawsuit last week. According to the documents, Elon Musk was planning a Twitter where users would tweet with 0.1 DOGE. According to the documents, in a message to Steve Davis, CEO of Boring Company, on April 14, he said:
My plan B is a Blockchain-based version of Twitter where “tweets” are placed as comments to the transaction. So, you will have to pay maybe 0.1 Doge per comment or per repetition of that comment.
As before, Dogecoin’s reaction to the news of the acquisition was pretty quick. After the news, it gained around 6% in the last 24 hours.
DOGE is currently trading at $0.06399. It rallied as high as $0.06575 at one point today.
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