Bitcoin Price Shoots Past $38,000 on Elon Musk’s Endorsement

Bitcoin Price Shoots Past $38,000 on Elon Musk’s Endorsement
HeadlinesNewsBitcoin Price Shoots Past $38,000 on Elon Musk’s Endorsement

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Bitcoin Price Shoots Past $38,000 on Elon Musk’s Endorsement

NewsBTC2 months ago
Published on January 29, 2021 10:48 GMT+0edited on January 29, 2021 11:09 GMT+0

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Elon Musk has changed its Twitter bio to one word: Bitcoin.

The billionaire entrepreneur, whose opinion of the benchmark cryptocurrency has juggled between skepticism and praise, appeared to have taken a definite stance about it. In a tweet that followed shortly after the bio update, Mr. Musk said that “in retrospect, it was inevitable.”

That was enough for Bitcoin bulls to take charge in an otherwise short-term bearish market. Mr. Musk’s tweet propelled them to raise their bids for the cryptocurrency. As a result, in just two hours, the cost to purchase one Bitcoin climbed from nearly $32,000 to above $38,000.

In retrospect, it was inevitable

— Elon Musk (@elonmusk) January 29, 2021

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Mr. Musk’s cryptic tweet and bio …