Elon Musk adds Bitcoin in Twitter Bio, how will BTC react?

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TL;DR Breakdown Elon Musk has added a Bitcoin hashtag on his Twitter bio. Bitcoin is already rising, similar to Musk’s tweet effect on Dogecoin. Several mixed comments have been ranging on Twitter especially, by both stock and cryptocurrency market participants, following yesterday’s development involving GameStop stocks and Dogecoin. The founder of SpaceX, Elon Musk, was … Read more

TL;DR Breakdown

  • Elon Musk has added a Bitcoin hashtag on his Twitter bio.
  • Bitcoin is already rising, similar to Musk’s tweet effect on Dogecoin.

Several mixed comments have been ranging on Twitter especially, by both stock and cryptocurrency market participants, following yesterday’s development involving GameStop stocks and Dogecoin. The founder of SpaceX, Elon Musk, was seen posting an image of a dog on Twitter, which many people assumed was a congratulatory tweet for his favorite cryptocurrency, Dogecoin

Recently, Elon Musk had casually prompted a spike in the market price of Dogecoin only through his tweet. Today, he has silently included a Bitcoin hashtag on his Twitter bio, which has sparked several thoughts in the mind of cryptocurrency users.

Let’s watch Bitcoin price

Given that the founder of SpaceX has been able to hype DOGE to an increase with his random comments on Twitter, many people are speculating that the leading cryptocurrency is likely to react positively. For instance, on December 20, Elon Musk tweeted “one word: Doge,” after which the cryptocurrency suddenly spiked by over 20 percent. Musk’s magic comment might also be effective on Bitcoin price, as people think.

Already, the leading cryptocurrency is beginning to make a push, just a few minutes after the tweet – although BTC may be rising for some other reasons. At press time, Bitcoin was trading at $35,870.50, making a 14.86 percent increase on a 24-hour count, as per Coinmarketcap.

Is Elon Musk holding Bitcoin?

By adding Bitcoin to Bio, it could also mean that Elon Musk bought bitcoin. Noteworthily, this isn’t the first time where Elon Musk made a Bitcoin-friendly tweet, and it’s unknown whether the CEO of SpaceX is actually a Bitcoin investor. However, earlier this year, he responded to a tweet from Ben Mezrich, confirming that he wouldn’t mind receiving Bitcoin for payments.

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