Micro-blogging platform Twitter will now belong to the world’s richest person Elon Musk. Memecoin Doge is up about 22.14 percent since its inception on Tuesday. Musk’s favorite cryptocurrency rose 22.14% to $0.162 on Tuesday, according to data available on Coinmarketcap.

The deal was worth $44 billion

Musk bought Twitter for $44 billion. A month before the deal was announced, the businessman publicly stated that he had a 9 percent stake in the microblogging website. In this way he became the largest individual shareholder of Twitter. Twitter then invited Musk to join the company’s board. Musk turned down the invitation. A few days later, it was revealed that Musk had bet to buy Twitter.

Twitter announced this on Monday

The micro-blogging website announced late Monday that it has struck a deal with a wholly owned company of Elon Musk. The deal is worth 44 billion. Once the transaction is complete, Twitter will become a ‘privately owned company’.

This is not the first time that news related to Elon Musk has seen a surge in the popular cryptocurrency. Musk’s comments have sparked a surge in the coin as well.

Recently, Musk suggested several upgrade options on Twitter. He added that Dogecoin could prove to be a viable payment option on this social networking website.