Elon’s Twitter Offer Is a “Hostile Takeover,” Says Doge Co-founder

Dogecoin Co-founder Jackson Palmer criticized centibillionaire Elon Musk’s unsolicited offer to buy social media giant Twitter for $43 billion.

Palmer argued that associating any type of space with the world’s richest man launching a hostile takeover of Twitter takes “some pretty impressive mental gymnastics.”

Musk’s controversial offer was predicted by many analysts after he obtained a 9.2% passive stake in the firm, becoming its largest shareholder. The SpaceX CEO backed away from his plan to join Twitter’s board of directors in order not to limit his maximum stake to 14.9%.

Some people believe that he is the last person who should take over one of the most influential social media companies due to his track record of juvenile online harassment.

In July 2021, Palmer lashed out at the crypto community in a viral tweet, claiming that the industry is controlled by a powerful cartel of wealthy figures. The Dogecoin co-founder said that he would no longer be concerned about any crypto-related topics after parting cryptocurrency ways with the toxic community back in 2015.

In May, Palmer criticized Musk, one of the key supporters of Dogecoin, as a self-absorbed grifter.

Jackson Palmer and Billy Markus established Dogecoin in 2013 as a joke, poking fun at the nascent crypto industry by using the Shiba Inu “DOGE” meme. Since then, the original meme coin has gathered a massive following online and become the eleventh-largest cryptocurrency by market capitalization at $19.06 billion.