#bitcoin tag posted on Elon Musk’s Twitter profile on Friday sees a push in cryptocurrency up by 14%.
Musk, CEO of Tesla Inc, during his debut on the invitation-only social media app Clubhouse endorsing Bitcoin, said that the cryptocurrency was “on the verge” of being more widely accepted among investors.
World’s richest man, Elon Musk is known for making comments on Twitter that move markets.
During his chat on Monday, he said: “I am a supporter of bitcoin.”
“I was a little slow on the uptake,” he said, adding he should have bought it eight years ago.
“I think bitcoin is on the verge of getting broad acceptance by conventional finance people.”
The wide range of chat also included a wide range of topics including memes, Mars, his companies, and vaccines.
Due to Musk’s attendance, the app’s chat burst, which has the usual limit of 5,000 people for a room getting passed and amplified further with Musk fans creating secondary listening rooms on Clubhouse.
Elon Musk, the founder of Tesla, SpaceX, and many other companies, all of a sudden turned an interviewer,
He ended up grilling trading app Robinhood’s co-founder Vladimir Tenev, about why it limited users to only being able to buy a small number of shares in some companies.
The move came after US games retailer GameStop’s stock surged some 400% in the past week amid a campaign to cause hedge funds large losses.