Technology

#bitcoin Tag on Elon Musk’s Twitter Profile Pushes Cryptocurrency Up 14%

Bitcoin last traded up 3.7% at $34,390, having surged over 300% in 2020.

#bitcoin tag#bitcoin tag posted on Elon Musk's Twitter profile on Friday - OyeYeah News
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#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.

elon musk post

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.

the authorSaman Siddiqui
Saman Siddiqui, A freelance journalist with a Master’s Degree in Mass Communication and MS in Peace and Conflict Studies. Associated with the media industry since 2006. Experience in various capacities including Program Host, Researcher, News Producer, Documentary Making, Voice Over, Content Writing Copy Editing, and Blogging, and currently associated with OyeYeah since 2018, working as an Editor.