Elon Musk’s Tweet Initiates Fresh Buying Momentum in BTC
Bitcoin surged 14% on Friday hitting two-week high after Tesla Inc. CEO Elon Musk mentioned the cryptocurrency in his Twitter profile.
Musk added the tag "#bitcoin" to his social media profile bio. The billionaire, whose Twitter account has 43.8 million followers, has repeatedly left market-impacting comments. For example, technology company GameStop Corp caught in the midst of retail investor buying frenzy, surged 50% on Tuesday when Musk tweeted "Gamestonk !!" and accompanied the tweet with a link to the Wallstreetbets Reddit page.
In December, in a Twitter chat, Elon Musk asked a prominent cryptocurrency supporter about the possibility of converting "large transactions" on Tesla's balance sheet into bitcoins.
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