The exchange rate of meme-cryptocurrency Dogecoin (DOGE) significantly increased amid the news about the decision of the board members of the social network Twitter to become part of the investment portfolio of U.S. billionaire Ilon Musk. In one day alone, the cryptocurrency became more than 24 percent more expensive.

In a press release issued the day before, it is stated that the representatives of the social network agreed to the terms of the businessman, who offered $44 billion for the takeover of Twitter. It is planned that the deal will be officially closed by the end of the end of this year. Starting from 2023, Twitter will be a private company whose securities will be available for sale and purchase on the over-the-counter market.

It is reported that about half of the amount for the multi-billion dollar deal was allocated by a group of banks, including Morgan Stanley. Out of his personal funds, Musk spent $21 billion.

The creator of the social network, Jack Dorsey, reacted very positively to the board's decision. In his In his opinion, the transition of Twitter under the control of Musk will give his brainchild a new life. Elon Musk himself wrote that he sees great potential for development in the social network. In the future he plans to upgrade the site, where he will
discuss the most important issues for the future of mankind.