Elon Musk, the richest man in the world, updated his bio on Twitter this Friday morning by simply adding the word 'Bitcoin'.
The price of Bitcoin (BTC) immediately responded with a 15% rise in less than an hour.
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Elon Musk x Bitcoin
Elon Musk joins crypto-enthusiasts by
changing his bio on Twitter. The CEO. of Tesla and SpaceX is not the
first billionaire to add the word 'Bitcoin' to its presentation on the
social network. Jack Dorsey, P.-D.G. from Twitter, has had a similar
biography for the past few months.
The billionaire also replaced his pinned tweet with
'In
retrospect, it was inevitable.' However, this latest post might not be
related to Bitcoin, but rather recent events related to GameStop (GME).
Musk
has spoken about Bitcoin in various speeches, podcasts, and other
tweets. He has already questioned the legitimacy of BTC as a viable
alternative to fiat money, but that position appears to have shifted
earlier this year when he saw his response in a Twitter discussion.
A
user known as Cerberus wrote: “There is latency and transaction costs.
But if it is used as a store of value and for the transfer of large
transactions, it is very effective. Currencies already work like
currencies; Bitcoin does not need to replace them. On the contrary, BTC
is a solution to guard against the crazy inflationary policy of central
banks ”. A tweet to which Elon Musk replied: 'Good point'.
BTC price soars
Anyway, at 9:30 am, the BTC suddenly flew away. Over the next hour, bitcoin's value increased by 15%.
However,
this sudden move did not benefit everyone as nearly $ 580 million in
positions were liquidated in the past four hours due to volatility.
At the time of publication, BTC is trading at around $ 37,500, up about 18% in the past 24 hours.
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