Sci-tech

Elon Musk Puts Bitcoin as His Twitter Bio: BTC Price Spikes $5000

Elon Musk Puts Bitcoin as His Twitter Bio: BTC Price Spikes $5000”

Bitcoin rallied above $35,000, with brokers attributing the move to Elon Musk mentioning the cryptocurrency in his bio page on Twitter.

Seperately, Eric Peters of One River Asset Management told Bloomberg that his hedge fund's holdings of digital assets has exceeded $1 billion, adding that institutional adoption of crypto assets - which played a large role in Bitcoin's rally this past year - is only expanding.

Bitcoin investors need to be prepared to "lose all their money", European Central Bank governing council member Gabriel Makhlouf said, the latest warning from a central banker on the cryptocurrency.

The Tesla billionaire tweeted late on Thursday that the e-commerce software company is "great" in response to another user's comment, sending Shopify's stock up as much as 3.5 per cent in late trading in NY.

More news: Samsung Galaxy M21 Now Receiving OneUI 3.0 Update Based on Android 11

"Obviously this huge melt-up is due to Elon's tweet", said Antoni Trenchev, managing partner and co-founder of Nexo in London, which bills itself as the world's biggest crypto lender.

There, supporters affectionately refer to him as "Papa Musk". He also sent posts calling Cyberpunk a great video game and said, "In retrospect, it was inevitable". Binance, the world's largest cryptocurrency exchange by volume, briefly suspended withdrawals on Friday to address a large increase in requests. "Our system couldn't generate new addresses fast enough to match new users coming in".

Elon Musk whose tweet helped GME stocks to gain almost $4 billion in market cap lashed out against hedge funds and short investors after many big wigs claimed the GME price rise was manipulation. This was a drop-off from its bull run that led to a new all-time high of $42,000. Marathon Patent Group Inc. and Bit Digital Inc. were up more than 20% in US pre-market trading.



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