One of the world’s richest men and Tesla CEO, Elon Musk, recently made a very interesting change in his twitter bio: he placed “#bitcoin Ƀ” in it. Shortly after this change, he tweeted: “In retrospect, it was inevitable.” This has spurred a flurry of speculations as to what the change in his bio meant in relation to the succeeding tweet.
Elon Musk’s Midas Touch?
Bitcoin has been struggling to break through the $30,000-$32,000 levels in the past week. When it seemed like the digital currency would be going sideways for a long time, Elon Musk happened.
As soon as Musk put “#Bitcoin” in his bio, its price picked up by 18%. Now, BTC is trading above the $37,000 level.
Last December 2020, Musk also tweeted about Dogecoin. At that time, the simple tweet saying “One word: Doge” translated into a 20% rise in its value.
Many may remember that in that same month, Musk also inquired about the possibility of making large transactions in Bitcoin. That particular tweet was in response to Microstrategy CEO Michael Saylor’s reply to him where he suggested that Musk convert the $TSLA balance sheet from USD to BTC.
Other prominent figures, such as Twitter CEO Jack Dorsey, mentioned Bitcoin on their bios too. What this means for the future of the coin’s value is still uncertain, but it definitely has been the talk around the crypto Twitterverse.
A Wild Ride Against Wall Street
Another puzzling tweet Musk made was a photo showing a dog in a magazine entitled “Dogue.”
This tweet was made in the middle of WallStreetBets’, a Reddit community, concerted drive to push Gamestop’s price upwards and go against Wall Street giants.
Following this tweet, there were reports that WallStreetBets was already eyeing Dogecoin. And true enough, DOGE soared to as much as 800% within the same day.
The first quarter of 2021 has been a wild ride against Wall Street and a promising continuation for crypto’s 2020 closing run. And just recently, Coin Market Cap made a joke token listing called WallStreetBets.
How the coming months will pan out is something to look out for. At press time, bitcoin is trading at $38,205, according to CoinGecko.
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