Bitcoin is breaking through a weeks-long slumber thanks to a big shout-out from billionaire tech entrepreneur Elon Musk.
On Friday, Musk modified his Twitter bio to a simple statement – “#Bitcoin”. The price of the top cryptocurrency promptly went vertical, rising from $32,119 to $38,415 at time of publishing.
This is far from the first time Musk has dabbled in the crypto craze. Two weeks ago, he agreed that Bitcoin fixes “inflationary insanity”.
In December, he asked crypto enthusiasts how feasible it was to move large amounts of money using BTC.
Musk has also flirted with Ethereum, stating in 2018 that he wants ETH “even if it is a scam”.
In July of last year, he confirmed he’s not building anything on the smart contract platform, saying he’s neither for nor against it.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox