Elon Musk’s Twitter buyout deal may not be dead after all

Tesla and SpaceX CEO Elon Musk has reportedly written to Twitter offering to buy the company at the price the two sides agreed to last April.

Musk reconsiders buying Twitter

According to a Bloomberg article citing sources familiar with the matter the CEO of Tesla and SpaceX recently wrote a letter to Twitter offering to acquire the company at the same price as previously agreed, $54.20 per share.

Musk had previously made efforts to acquire Twitter for $44 billion. However, the Tesla CEO later accused Twitter of manipulating some of its user count data, claiming that much of the social network’s user activity came from bots. In May, Musk demanded that the company prove that less than 5 percent of its user accounts were fake. Eventually, Musk backed out of the deal, leading Twitter to sue the billionaire for breach of contract, claiming $1 billion in penalties.

Musk’s takeover of Twitter’s deal led to a rise in the market. TWTR gained 17.3 percent on the news, rising from $42.83 to $49.81, then fell back to $47.93 – the New York Stock Exchange halted trading in the stock at the time. Dogecoin, which Musk has championed on multiple occasions, also jumped 10 percent. 9.1% on the news, up to $0.065.

Over the summer, Elon Musk had publicly stated that Twitter might consider integrating crypto-currency payments into its social networking services. Recently made public text messages between Elon Musk and former Twitter CEO Jack Dorsey also revealed that Musk had considered the idea of using crypto-currencies – including Dogecoin – to combat spam on Twitter. Musk’s bid to take over the company has received support from crypto-currency industry leaders, including FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao, both of whom have expressed interest in financially helping the billionaire finalize his acquisition.