Bitcoin rose up to 15% on Friday after Tesla founder Elon Musk changed his Twitter bio to “#bitcoin” “

The digital asset rose to 38$ 08994 after the billionaire’s update after spending most of the week in a range between Jan.000 and 33The token hit an all-time high of over 41 earlier this month000 US dollars, which was due to a record amount of economic stimulus and inflation fears

Be “Gamestonk !!” on Wednesday Tweet along with a link to the popular WallStreetBets subreddit also contributed to a 157% rally in GameStop stocks

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According to Neil Wilson, Chief Market Analyst at Markets, it is not entirely obvious what the main difference is between Elon Musk, who has Bitcoin on his Twitter bio, and the lack of Bitcoin in his Twitter bio, “Com” means that he’s buying? Or does he just think it’s a good thing, “he wrote in a note, adding that Musk’s record on Twitter is” checkered “with Tesla stock”

“Obviously the move is being hailed by the Bitcoin bulls,” he said, describing the market’s feverish trading in hot stocks like Bitcoin and GameStop as “risky” “

He also noted that “Assets that can be so easily moved from social media, whether Twitter or Reddit, are responsible for large moves within a day and then could be too hot for many to handle.” wild out there “

The rise of Bitcoin is also being indirectly driven by proponents from Reddit merchants and retail investors who protest against the structure and practices of Wall Street in financial markets. “It’s important to note that much of the work has been done in the blockchain space was inspired by these barriers, “said Paolo Ardoino, CTO at Bitfinex

Bitcoin, rising after such anger among the financial elites, is a “glimmer of hope for a more just and just financial system,” he said

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BTC

World News – FI – Bitcoin up 15% after billionaire Elon Musk changed his Twitter bio to include it

Source: https://www.businessinsider.com/bitcoin-price-billionaire-elon-musk-changes-twitter-bio-to-bitcoin-2021-1