Elon Musk changes his Twitter bio to 'Bitcoin', BTC soars 15%

 

 


 

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.

 

 

read also:   Facebook launches action against Apple for abuse of dominance, Tim Cook hits back

 

 

 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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