A big move for a company, however we cannot yet tell that this investment made by them will cause big impact to bitcoin's value.
Actually it did have an impact, bitcoin was trading on the lower range of $10,000 before the news broke and spike the price to $11,400 before the correction step in. It did affect some alts too as majoriuif them saw a spike in price too mostly due to bitcoin increase and not the news directly. In my opinion, the amount bought was just too small for a company as big as that but it could be Jack was just taking some precautions measures since the uncertainty of the market is at its peak.
The reaction from the market just showed the market was waiting for any news to follow. Assuming it was a negative news it would had crashed the market just as it did with the trump's news of him having the coronavirus. 4700+ bitcoin ($50million) is a small amount to have much impact as it did on the market. Considering the bitcoin market is over billions of dollars.
We cannot quite guarantee that it will reach highest it's highest point value because of these one
Don't think there was any attempt by Jack to create FOMO in the market and spike the price to its previous all time high, if that was his intention then $50millions was too small to do the trick.