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How Dogecoin Will Benefits from Twitter and X Merge

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By Brennan Forrest - - 5 Mins Read
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In a new filing, it has been revealed that Twitter will be merging with X Corp to form a new company. However, all this came without an official announcement, as another source leaked the whole process. In the court filing that happened on the 4th of April, 2023, it read, "Pursuant to Rule 7.1(a)(1) of the Federal Rules of Civil Procedure, the undersigned counsel for Defendant X Corp, as successor in interest to named Defendant Twitter, Inc, hereby states that Twitter, Inc. has been merged into X Corp. and no longer exists."

According to the source, the change in Twitter's patent company came after political activist Laura Loomer filed a lawsuit against Twitter for breaking federal racketeering laws. The lawsuit was a result of her account being banned in 2019. 

What Happened? 

On April 4th, 2023, Elon Musk's company X Corp fully acquired Twitter Inc. However, X Corp. is a privately held corporation and is not a public company. The parent company of X Corp. is X Holdings Corp. According to one of the court documents, it read, "X Corp. is a privately held corporation. Its parent corporation is X Holdings Corp. No publicly traded corporation owns 10% or more of the stock of X Corp. or X Holdings Corp."

Before Elon Musk purchased Twitter, he had already created the parent company. The billionaire had three holding companies called X Holdings I, II, and III in April 2022 before purchasing the social media platform. As he had previously mentioned, rumors are starting to leak that Elon Musk might be trying to create a super company that houses all his companies. When this super company is created, companies such as Tesla, SpaceX, Neuralink, The Boring Company, and Twitter will be under it. 

The new court documents also highlight a change in Twitter headquarters. From the papers, it was filed in Nevada on May 15th, 2023. This new leak shows that Twitter headquarters has shifted from Delaware to Nevada. These are massive changes that many people are yet to know about Twitter. However, it seems like Elon Musk Dogecoin would benefit the most from these changes. 

How Dogecoin Will Benefits from the Merge 

Right now, Twitter has not made the merge official, so it looks like it won't affect the app for now. However, the new development is part of Elon Musk's plan to create the "Everything app." Before acquiring the social media platform, the billionaire had revealed that it would turn Twitter into a multi-purpose app called X. 

Just like the Chinese equivalent of WeChat, Elon Musk hopes to turn Twitter into a platform where a lot of things would be happening on. From several analyses, it seems like the core integration when the Everything app finally goes live is payments. In the past, Elon Musk has made some Dogecoin price predictions, saying that it could serve as a good payment model. Assuming Elon Musk keeps to his plans and creates a payment platform with Dogecoin integrated, it would massively drive the growth of the cryptocurrency. Not only will the short-term value of the meme coin be increased, but it will also potentially provide stability for the cryptocurrency in the long term. However, things are yet to go official.