The famous businessman Elon Musk has added a hashtag to his Twitter bio, and since then Bitcoin price rises dramatically. Elon Musk‘s influence on the Internet and on the economy continues to surprise everyone. There are more than a few times that one of his tweets has caused a stock to go up or down, and today he has once again demonstrated his deterministic “power” on the cryptocurrency market.
Bitcoin price rises dramatically…
Just by putting “#bitcoin” in his Twitter bio, the value of Bitcoin has skyrocketed from around $31.500 to $37.489. It has literally drawn an ascending graphic.
At this point, it should no longer surprise us, but Elon Musk is capable of changing certain trends with a single tweet. It reached its all-time peak on January 8, 2021. Since then it has suffered falls until Elon Musk and his bio change came along.
…after Elon Musk adds “#bitcoin” to his Twitter bio
In retrospect, it was inevitable
— Elon Musk (@elonmusk) January 29, 2021
After he added #bitcoin to his bio, he also tweeted “In retrospect, it was inevitable.” It seems a bit of a cryptic message, but referring probably to the change in his bio and that he is finally giving “inevitable” support to the famous cryptocurrency, which may be why the market has taken it so well. Just as PayPal‘s support for cryptocurrencies was taken at the time because PayPal is a giant player in online payments.
Musk’s relationship with Bitcoin goes far beyond the times he has spoken out about it publicly. His image is probably the most used in scams around cryptocurrencies, given the influence that malicious actors know the Tesla CEO has. We’ll be looking forward to the price of the famous cryptocurrency in the upcoming days.