Elon Musk’s Twitter takeover pushes dogecoin price up 30%


Here’s what a 1.75% Bank Rate means for your mortgage
Dogecoin soared nearly 30% on Tuesday after Tesla boss Elon Musk agreed to buy Twitter for $44 billion.
The world’s largest memecoin by market capitalisation is now priced at $0.16, according to CoinMarketCap statistics.
Dogecoin, which features a Shiba Inu dog as its symbol, is still down 78.4% from its all-time high of $0.73 on May 08, 2021.
After the Twitter board accepted Elon Musk’s purchase price and conditions a green candlestick lit under the price of Dogecoin (DOGE-USD) and the cryptocurrency made a parabolic move.
On Monday, Twitter announced that it has reached a “definitive agreement to be bought by an entity entirely owned by Elon Musk for $54.20 per share in cash, in a transaction valued at about $44 billion”.
Read more: Is bitcoin helpful to totalitarian regimes?
After Musk’s acquisition, the social media giant founded by Jack Dorsey in 2006 will revert to its status as a “privately held corporation.”
Referring to the takeover by Mr Musk and the fact the company will no longer be publically listed, Mr Dorsey wrote on Twitter: “I love Twitter.
“Twitter is the closest thing we have to a global consciousness.”
“The idea and service is all that matters to me, and I will do whatever it takes to protect both.
“Twitter as a company has always been my sole issue and my biggest regret.
“It has been owned by Wall Street and the ad model.
“Taking it back from Wall Street is the correct first step.”
Mr Dorsey added that “Elon is the singular solution I trust, I trust his mission to extend the light of consciousness”.
Musk has not been shy about his affection for Dogecoin and its possible use as a medium of exchange within the Twitter ecosystem.
Read more: ‘Crypto lobby groups are dictating terms in Washington’
There has been speculation that advertisers could be able to pay for ads on Twitter using dogecoin.
This would emulate what we have seen happen in Musk’s other company, the car-maker Tesla, where customers have the ability to purchase some products using dogecoin.
Products buyable with the meme-based cryptocurrency include the Cyberquad for Kids, the Giga Texas Belt Buckle and the Cyberwhistle.
The global crypto market cap is now $1.87T, seeing a 5.45% increase over the last day.
Read more: Crypto live prices
Bitcoin (BTC-USD) made gains of close to 6% on Tuesday, rising to $40,615 as of the time of writing.
Bitcoin’s move above $40K has alleviated crypto enthusiasts after analysts forecasted a slump to $31K last week.
Second place cryptocurrency ethereum (ETH-USD) has broken through the $3k psychological level to push past $3,002 Tuesday morning UK-time.
Watch: Steve Hanke: ‘Cryptocurrencies are fiat money on steroids’
Both men were away from Westminster as the Bank of England raised interest rates again and warned of the longest recession since the financial crisis.
LITGRID AB, company code 302564383, registered office address Karlo Gustavo Emilio Manerheimo str. 8, Vilnius, Lithuania delivers results of the Company for the 1st half of 2022: Revenue for the 1st half of 2022 – EUR 145.2 million (the 1st half of 2021 – EUR 112.4 million); Net loss for the 1st half of 2022 – EUR 9.2million (the 1st half of 2021 – net profit EUR 17.4 million); EBITDA (earnings before interest, taxes, depreciation and amortisation) for the 1st half of 2022 amounted to EUR 0.1 mi
The Industrial Packaging Market was valued at USD 56. 19 billion and is expected to reach USD 76. 08 billion by 2027, registering a CAGR of 5. 03% during the forecast period (2022 – 2027). The increasing volume of resources and products that are being transported across various regions is one of the primary factors that has led to the importance of bulk industrial packaging.New York, Aug. 04, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Industrial Packaging Mark
Villers-lès-Nancy, 3 August 2022 – 6:00 p.m. (CET) PRESS RELEASE H1 2022 Revenue Up 10.3% to €103.57m. Like-for-like (excl. the PROKOV EDITIONS acquisition), Group revenue grows 7.68% to €101.11m. Gains by all Divisions (with the exception of FINTECH, particularly affected by the economic context).Effects of the French Digital Healthcare investment programme (Ségur du Numérique en Santé): Teams focused on submitting supplier certification applications under the government programme’s timeline.Q2
Registrations totalled 112,162 units in July, down from 123,296 in the year earlier.
Base rate raised by 0.5 percentage points to 1.75%, as Bank says inflation will hit 13% in October
Robinhood on Tuesday said it is laying off nearly a quarter of its employees as inflation and a crypto market crash cripple activity on the stock trading platform.
The pound was down 0.11% against the dollar at 1.212 and was 0.53% lower against the euro at 1.189 at the close.
Global Small Appliances Market Global Small Appliances Market Dublin, Aug. 03, 2022 (GLOBE NEWSWIRE) — The “Global Small Appliances Market (Cooking, Personal Care, Vacuum Cleaners & Food Preparation): Insights & Forecast with Potential Impact of COVID-19 (2022-2026)” report has been added to ResearchAndMarkets.com’s offering. The global small appliances market is forecasted to reach US$307.83 billion in 2026, experiencing growth at a CAGR of 5.78% during the period spanning from 2022 to 2026. G
Rhinoplasty Market Research Report by Type (Augmentation, Ethnic Rhinoplasty, and Filler), Technique, Procedure Type, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) – Global Forecast to 2027 – Cumulative Impact of COVID-19New York, Aug. 03, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Rhinoplasty Market Research Report by Type, Technique, Procedure Type, Region – Global Forecast to 2027 – Cumulative Impact of COVID-19” – https://www.reportlink
Markets brace for biggest interest rate rise for more than a quarter of a century.
Germany faces a “chain reaction of unforeseen consequences” if Russia cuts off gas completely, one of the country’s biggest lenders has warned, as Chancellor Olaf Scholz said Moscow was wrong to suggest technical issues were limiting energy flows.
The global professional headset market earned revenues of $2. 21 billion in 2021, a 6. 4 percent increase over an unprecedented 2020 year. Remote and hybrid work continued to trigger demand for professional headset products during 2021 with evolving communications and collaboration usage scenarios.New York, Aug. 04, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Growth Opportunities in the Global Professional Headset Market-Forecast to 2028” – https://www.reportli
British families face the longest recession since the financial crisis and soaring prices, the Bank of England has warned, as a surge in energy bills will leave households poorer and the economy smaller.
Lloyds Bank has warned of a surge in scammers selling fake football tickets, as a new season of the premier league is about to kick off.
Staff cut by almost 300 in year to August 2021 as celebrity chef’s company warns of tough trading conditions in cost of living crisis
Shortage of conveyancers holds up completions in the wider industry as Taylor’s average private sale price hits £337,000
The Malta-flagged Rojen is due to arrive in the UK on August 14, an official said
App-driven care provider plans to reach 100,000 people each day to free up NHS beds
Case Management Software Market Research Report by Function (Fraud Detection & Anti-Money Laundering, Incident Management, and Investigation Management), Industry, Deployment, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) – Global Forecast to 2027 – Cumulative Impact of COVID-19New York, Aug. 03, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Case Management Software Market Research Report by Function, Industry, Deployment, Region – Global Fore



Source link

(Visited 7 times, 1 visits today)

About The Author

You Might Be Interested In


Your email address will not be published. Required fields are marked *

This is default text for notification bar