On January 29, when Elon Musk, the wealthiest man in the world, changed his Twitter bio, clearly adding the word ‘Bitcoin’, it was accompanied by the almost immediate 13 percent rise in the spot price of Bitcoin (BTC).
According to cointelegraph.com, on Friday morning, Musk’s bio seemed to be changed and was followed by a mysterious tweet that pointed to the inevitability of… something.
Tweeted at 8:22 in the morning UTC, Musk’s 43 million followers took interest, apparently. Some believed that the tweet was a reference to the Dogecoin (DOGE) price rise that was sparked as a follow-up to the latest short-squeeze of Gamestop (GME) stock by r/wallstreetbet traders. Others thought that the tweet was Bitcoin related.
Bitcoin unexpectedly took off at 8:24 a.m. Bitcoin’s worth rose by 13.9 percent over the next 30 minutes, as the coin price climbed from a starting point of $32,194. The coin was worth $36,670 by 9:04 a.m., according to CoinMarketCap data. BTC started to climb soon afterwards, ultimately reaching $37,420, reflecting more than 20 percent rise in the past 24 hours.
In December 2020, after Musk posted a Doge meme, the value of Dogecoin grew by 25 percent. Dogecoin memes followed by the words “It’s inevitable,” Musk had previously posted, perhaps giving a hint to the essence of Friday’s tweet.