Elon Musk changes Twitter bio, sends Bitcoin surging
By Michele Maatouk
Date: Friday 29 Jan 2021
(Sharecast News) - Bitcoin surged on Friday after Tesla and SpaceX boss Elon Musk changed his Twitter bio to just "#bitcoin".
Musk, who has 43.8m followers, put out a cryptic tweet saying: "In retrospect, it was inevitable." This sent Bitcoin surging to $38,000 from $32,400.
Neil Wilson, chief market analyst at Markets.com, said: "We have seen this week the power of social media to drive markets, with the Reddit situation in full public glare. Elon Musk was involved there too, tweeting 'Gametonk!!' and a link to the /wallstreetbets Reddit, fuelling a surge in the GameStop share price after hours.
"It's not quite apparent what the material difference between Elon Musk - admittedly the world's richest man - having Bitcoin in his Twitter bio and not having it there really is. Does this mean he's buying? Or does he simply think it's a good thing. We should note that Musk's record on Twitter with Tesla shares ('funding secured') is chequered. Clearly the move is being cheered by the Bitcoin bulls."
At 1045 GMT, Bitcoin was trading up 15.7% at $36,376.45.
On Thursday, Musk sent shares of Polish computer game maker CD Projekt soaring after he said on Twitter that the company's flagship Cyberpunk game had "incredible" aesthetics.
Special promo:
Trading the Forex Market? Visit FXmania.com to get advanced infomation about currencies and the Foreign Exchange
Market.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN