Bitcoin prices soar after Elon Musk changes his Twitter feed

Bitcoin prices soar after Elon Musk changes his Twitter feed

Elon Musk won’t stop. Since the beginning of the year, the richest man in the world, very active on Twitter, has changed the trajectory of several companies on the stock market such as Etsy, Gamestop or Bandai Namco. All of this has been achieved through simple messages posted on the social network, which have not failed to boost the shares of the companies concerned. On Thursday 28 January, the boss of SpaceX and Tesla’s managing director re-offended. But this time, it was his short biography on Twitter that he changed. And it is not a company that is concerned but a cryptomony, the most famous of all: Bitcoin.

Elon Musk added « #bitcoin » to his account, followed by the logo of the virtual currency. The effect was immediate. The price of the cryptomony took off by 17% in 24 hours. At 11am, this Friday, Bitcoin is trading at 36,861 dollars, according to the digital currency platform Coindesk. And its market capitalization exceeds 680 billion dollars. In recent months, Bitcoin has gone from record to record. After hitting $20,000 in mid-December, it surpassed $40,000 on January 7, before falling back the following days.

Bitcoin, always highly volatile, has since made brief inroads below $30,000. But in recent months it has benefited from the growing enthusiasm of major players, notably the Paypal payment service, which since the end of 2020 has been accepting exchanges in cryptoskills (Bitcoin, litecoin, ethereum and bitcoin cash). The virtual currency could therefore soon break new records.

Read also – Elon Musk changed the share price of these 5 companies by simple tweets

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Bitcoin prices soar after Elon Musk changes his Twitter feed
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