Elon Musk pumps bitcoin with just a bio change
Following a Twitter bio change from the world’s richest man, Elon Musk, appears to be on a path to reclaiming $40,000.
Musk, who has been quite vocal about cryptocurrencies, particularly Doge, updated his Twitter bio to a single word – “#bitcoin” on January 29. This was all the fuel that the digital asset needed to kick start a new rally. Bitcoin’s price rose by 13% almost immediately.
Prior to his bio update, Musk had left a cryptic tweet hinting at the inevitability of something.
In retrospect, it was inevitable
— Elon Musk (@elonmusk) January 29, 2021
His audience of over 43 million followers apparently took notice with some assuming that his comments were related to Dogecoin’s recent price surge. Some assumed that the tweet was referring to Bitcoin. Two minutes later and Bitcoin suddenly began rising, climbing to $36,670 within 30 minutes. Bitcoin eventually hit $37,420, representing a 24-hour growth of more than 20%.
As earlier stated, this is not the first time that Musk will be hyping a digital asset or stock price. In December, last year, the price of Dogecoin surged by 25% following a Doge meme posted by Musk. He is not also the first billionaire to reference Bitcoin in his Twitter bio. In mid-2020, Jack Dorsey, the CEO of Square did the same thing.
Continue reading on BTC Peers
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.