After an eventful week, Elon Musk has been confirmed as the new owner of Twitter, ending a week-long speculation.
The billionaire has been on a personal move to take over the operation of the social networking platform and make it private. As per the report about the deal, it is believed that the takeover was completed after the sum of $44 billion in cash was agreed upon by both parties.
As expected, the crypto community is excited about what is to come. And what has got the crypto enthusiasts excited is the belief that the Tesla boss will include a Dogecoin payment to Twitter in the shortest possible time.
Musk Proposed Dogecoin Payment On Twitter
The billionaire is widely known for his support of the first meme cryptocurrency and has been at the forefront of pushing for the mainstream adoption of the canine coin.
Shortly after buying a substantial stake in the company, which is reported to be 9.2%, Musk has suggested several changes to the workings of the social media platform. Among the changes he proposed is payment using Dogecoin.
Additionally, the proposed payment in DOGE is for the monthly subscription fee of Twitter Blue, which Musk suggests as a measure to checkmate the activities of spammers on the platform.
However, the question on the lips of many industry observers is whether the Tesla CEO is ready to carry out the proposed changes now that he owns the popular social networking platform.
Meanwhile, the price of Dogecoin has shot up by up to 20% in the hours after the announcement of the takeover was made. Likewise, Dogecoin has become one of the top 10 digital tokens due to the new development.
More than ever before, the meme token had managed to outpace some performing cryptos that were ahead of it in the pecking order before the Twitter takeover announcement was made. It has managed to topple the likes of Avalanche, Terra, and Polkadot.
According to the on-chain analytics firm, Santiment, the sudden spike in the value of the DOGE has further lent credence to the fact that the meme coin benefits from any positive development that has to do with the tech entrepreneur.
Dogecoin Expected to Gain
The latest development has undoubtedly sent a positive message to the strong Doge community. It is not surprising that the focus would be on what the original meme token has to gain concerning the Twitter takeover.
Musk has been a consistent supporter of Dogecoin, which has seen his electric car manufacturing company, Tesla, begin accepting payment in DOGE at the beginning of the year.
Furthermore, on more than one occasion, the billionaire has consistently advocated adopting Dogecoin for payment, adding that it serves more utility purposes.
The general belief about adding Dogecoin for payment on Twitter is that it is too early to give a definite answer, and the coming days will reveal all that is to be known.