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Bitcoin has risen in price by 14% after it was mentioned on Twitter by Elon Musk
Bitcoin surged 14% on Friday to a two-week high shortly after Tesla CEO Elon Musk tweeted the cryptocurrency. This was reported by Reuters.
REUTERS / Dado Ruvic
The head of Tesla only had to place the hashtag #bitcoin in his account profile, and the world’s largest cryptocurrency rose in price by 10.2% to $ 36,901 as of 13:05 Moscow time, continuing to grow to 14%.
Comments from a billionaire entrepreneur with a Twitter audience of 43.8 million often cause stock market changes. On the r / WallStreetBets subreddit, which brought together private investors, supporters of the head of Tesla affectionately call him “Papa Musk”. On Tuesday this week, shares of GameStop Corp. chain store selling video games and game consoles surged 50% after Musk tweeted “Gamestonk!!”Along with a link to this group on the Reddit forum. And while Musk most likely wanted to play a trick on investors who thought they could get rich from investing in GameStop, this had the opposite effect.
Bitcoin has gained more than 300% in price last year as larger US investors and corporations began investing in cryptocurrency. Bitcoin breaks record $ 40,000 this month.