Elon Musk joined the Twitter board with his 9.2% the stake; what does it means for Dogecoin?
As AZCoin News reported, Elon Musk has been appointed to the Twitter Board of Directors after he announced his ownership of 9.2% of the company on Monday (73.5 million shares). This makes him the biggest investor on Twitter. So, what does this mean for Dogecoin (DOGE)?
Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!
— Elon Musk (@elonmusk) April 5, 2022
Elon Musk joined the Twitter board; what could it mean for Dogecoin?
According to the investment terms, 14.9% is the largest share he can own in general as an individual investor, member of the investment team, or a director of Twitter.
Now, Twitter CEO Parag Agrawal, who took over from Jack Dorsey, has spread the word that Musk will join the company’s board. He will serve as a Class II director, and his term will expire in two years during the Twitter shareholders’ meeting in 2024.
BREAKING: Twitter to appoint Elon Musk to their board of directors and shares are up on the news.
— Bloomberg TV (@BloombergTV) April 5, 2022
Musk is a longtime Dogecoin fan. He has previously stated that he will support the rollout of the crypto meme into social media and has even given serious thought to building a new platform. After Twitter rolled out limited features in Bitcoin and Ethereum last year, Doge co-founder Billy Markus publicly asked Twitter to implement the Doge capping part.
Musk could influence decision-making on Twitter now, who knows? Maybe he will do something to promote Dogecoin to the users there.
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