- Elon Musk entered Twitter headquarters today at the end of a planned acquisition of the company.
- Musk is said to be set to complete its acquisition of the social media company by 5 p.m. ET on Friday, October 28.
- Although Musk’s crypto plans on Twitter are uncertain, Dogecoin is up 15% in 24 hours.
Elon Musk took to Twitter on Wednesday as his planned acquisition of the social media company neared completion.
Musk visits Twitter
Elon Musk visits Twitter headquarters.
Musk entered HQ with a kitchen sink and later tweeted, “Enter Twitter HQ – let it sink in.” He also changed his Twitter bio to read “Chief Twit”.
Leslie Berland, Twitter’s chief marketing officer and head of people, stated in an internal memo that Musk “is there [San Francisco] This week’s office met people, walked the aisles” and watched the staff work.
She also said he will address Twitter employees this week. “You’ll all hear from him live on Friday,” she wrote.
Musk’s acquisition of Twitter is expected to expire soon. Yesterday, he informed his supporters that he will be shutting down the Twitter business by Friday, October 28. Recent reports indicate that the deal will close at 5:00 PM ET that day.
The closing of the Twitter acquisition comes after several months of anticipation. Musk’s initial offer to buy Twitter was revealed in an April 14 filing. Twitter initially blocked the deal but accepted a $44 billion offer on April 25.
Between May and June, Twitter failed to provide enough information about spam and fake accounts, and Musk officially called off the deal on July 8.
Later in July, Twitter secured a lawsuit against Musk in an effort to force him to go through with the deal. That lawsuit began this month, and around October 4, Musk decided to go ahead with the Twitter takeover regardless of the eventual outcome of the case.
It remains unclear whether Musk’s first cryptocurrency plans – such as Dogecoin integration and microtransactions to prevent spam – will be implemented on Twitter.
The news continues to make noise in the crypto community, with DOGE up 15% in the last 24 hours. With quite a few other major events happening around the cryptocurrency, these gains are almost certainly due to the Twitter deal.
Dogecoin’s gains are higher than other benchmarks: Bitcoin is up only 3.0% and the entire crypto market is up by 3.3%.
Disclosure: At the time of writing, the author of this article owns BTC, ETH, and other digital assets.