Elon Musk just pumped Bitcoin more than he’s pumped any crypto — ever
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Elon Musk added Bitcoin to his Twitter bio earlier today. Within moments, the cryptocurrency’s price surged from $32,000 to clear $38,000 — a 20% jump.
This is easily the most power Musk has shown over Bitcoin’s price, far exceeding BTC’s 5% rise after he tweeted “Toss a bitcoin to ur Witcher” in reply to Game of Thrones’ Maisie Williams last November.
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In fact, this appears to be the most Musk has ever been able to pump any cryptocurrency in one day. Protos calculated Musk helped push the price of Dogecoin up almost 18% in December.
Still, it’s far below the power the unofficial WallStreetBets Chairman seems to wield over Dogecoin. The account (which boasts over 740,000 followers) tweeted about the meme-inspired cryptocurrency early Thursday morning, and by the evening DOGE had risen 520% at its peak.
[Read more: We figured out how much power Elon Musk holds over Dogecoin]
DOGE finished Thursday up 240% for the day, with WallStreetBets Chairman doing their best to boost its price once more with another tweet early Friday morning.
Of course, whether Bitcoin retains its Musk-inspired price is another story. At press time, BTC is struggling to maintain above $37,000 as crypto fans continue to flood Twitter with hype.
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This is not investment advice. Don’t pretend it is. Always do your own research.