The price of this digital currency rose by 14% in a few minutes after Ilan Musk, the richest person in the world, added the name of Bitcoin to his Twitter account with 43 million followers.
To Report Coin Telegraph, the Musk that is now the richest man in the world, changed his Twitter (Bio) user information to “Bitcoin” yesterday. Immediately after this incident, the price of Bitcoin experienced a jump of about 14%.
On Friday morning, before the bio Twitter change, Musk wrote in a rather strange tweet:
When we go back in time, it is inevitable.
It is not yet clear what Elon Musk means by “inevitable.”
Musk’s tweet immediately caught the attention of his 43 million followers. Some thought the tweet was related to the Dogecoin price jump. Dogecoin’s price jumped 700 percent on Thursday with an astonishing jump. The spark is said to have been ignited by the Wallstreetbets Reddit Association after GameStop’s extraordinary performance. Others attributed the Musk tweet to Bitcoin.
Two minutes after Elon Musk tweeted, the price of bitcoin jumped sharply, rising 13.9 percent in 30 minutes. In this increase, the price of Bitcoin rose from $ 32,194 to $ 36,670. The jump in the following hours pushed the price of Bitcoin to $ 37,420, up 20 percent in the previous 24 hours.
December 2020 (December), after Elon Musk tweeted about Dogecoin, the price of this digital currency increased by 25%. It should not be forgotten that Musk had previously published humorous posts with the Dogecoin logo and the text “Inevitable”, and this could indicate that the recent tweet was also addressed to Dogecoin.
This is not the first time a billionaire has added a bitcoin name to his Twitter account information. Twitter CEO Jack Dorsey did the same in the middle of last year. Dorsey is also the CEO of Square. CashApp, developed by Square, specializes in digital currency trading services. According to reports, more than 80% of cashback revenue came from bitcoin transactions.