Tesla Inc (NASDAQ:TSLA) CEO Elon Musk is a well-known Dogecoin (CRYPTO: DOGE) bull. His tweets have sent the meme coin soaring in the past.
On April 14, the entrepreneur approached Twitter’s board with an offer to buy all the outstanding shares of the company for $54.20 per share, a 38% premium over that day’s prevailing stock price.
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The Investment
If an investor banked on Dogecoin the day Musk made his announcement and invested $100 the same day, here’s how much they would have at press time when DOGE traded at $0.1558.
| Date Of Purchase/Listing | Purchase Amount | Purchase Price | Coins Obtained | Current Worth | Percentage Change |
|---|---|---|---|---|---|
| April 14, 2022 | $100 | $0.1439 | 694.93 | $108.27 | 8.27% |
The investor would end up with a gain of 8.27% and the $100 would be worth $108.27 at press time.
Takeover Secured
Musk succeeded in his quest to purchase Twitter on Monday. He said he invested in the company because of “its potential to be the platform for free speech around the globe.” On the same day, Dogecoin rallied 20.8% in the exuberance of the news.
