Elon Musk adds #Bitcoin to his Twitter bio

[virasog]

Musk's change is bio cannot be overlooked; he did it first with Doge coin; and after seeing the fomo worked perfectly; he literally did the same to bitcoin today; he merely used his influence on social media to create a fomo incidence which worked to certain extents; alot of bitcoin traders who are shorting bitcoin were liquidated due to the ripple effect of musk bio

May be this tactics will continue to work for him until people begin to get burnt and hunt and then they begin to hate him like they now hate McAfee and anything he touches. I have to confess that Elon is a very influential person and people will always value his calls on any business.

Yesterday people were very happy seeing the bitcoin price rise around 5000$ within 4 hrs but today it is back to 34,000$ levels. Many people have fomo and now they are in a loss as they bought at high prices. Although i know that bitcoin price will rise in future but i do not like such pump dumps in the bitcoin price.

[TedMosby]

Are they making the hype now? That seems quiet to see how Elon Musk does this, with the hashtag Bitcoin? Well, that simply creating hype and use his popularity to encourage people to buy Bitcoin at a high price.

But wait, I don't think is really enough to make a huge spike for the hashtag line. Probably not the case why we have this surge, just a coincidence, Elon Musk didn't do anything with the market, nor he is playing around but to suspect this as another drama from different people and uses Elon Musk's identity.

He is the richest man in this world, plus I think he is the most influential person in the tech industry nowadays.
So any crypto-things initiation by him will be overexposed by Twitter users since Twitter is the homeland for crypto shilling activity.

But I am still 50:50 about crypto influencers that can influence the crypto price.
Take a look at this article, you can read the correlation between Twitter influencers and crypto price
https://beincrypto.com/what-impact-do-twitter-influencers-have-on-crypto-prices/

[Tstar]

I am happy with the spike in exchange rates for Bitcoin, but at the same time I can't ignore the fact that Elon Musk has been accused of market manipulation before. He has tried to influence the stock markets in the past multiple times with his tweet. Here is a statement from the SEC regarding some of his tweets:

https://www.sec.gov/news/press-release/2018-219

And just a few months ago, he was again accused of doing the same:

https://www.theverge.com/2020/5/1/21244747/elon-musk-tesla-tweets-shares-sec-settlement-stock

Now there is a real possibility that he is doing the same with Bitcoin as well.

I think he learned his lessons after the SEC settlement. This time his tweets are 'clear'.

Posting #Bitcoin in BIO is freely interpretable. He's not suggesting or saying anything. People are those interpreting it as a bullish sign.

[Pomogator]

I think that this status was regarded as an approving gesture towards bitcoin. Most likely, those many who doubted the digital currency after this status stopped thinking and invested in it. Only after this event do you understand how broad the audience of Elon Musk is if she is able to greatly influence the bitcoin rate with her investments. Elon is a fine fellow that he doesnt hesitate to do such things for a wide audience.

[Question123]

Elon musk helpful for the cryptocurrency to grow because they added to his bio bitcoin in his twitter account, there is a lot of followers of this person and to those who follow it see the bitcoin possible for them to buy more bitcoin that will cause for the bitcoin to dump the value. The more bitcoin will buy this year the price will up and it is nice to see that and hoping more famous people will advertise bitcoin.

[Twentyonepaylots]

This sparked a lot of articles and of course needed publicity for bitcoin. That being the case, it has always been obvious thst Elon is a supporter of bitcoin and cryptocurrencies in general. He even went beyond and implemented a bitcoin purchase method in Paypal, one of his most famous brainchilds. Now let's just sit and wait until all of this unfolds, this is gonna be epic.

[Clement Kaliyar]

I think he learned his lessons after the SEC settlement. This time his tweets are 'clear'.

Posting #Bitcoin in BIO is freely interpretable. He's not suggesting or saying anything. People are those interpreting it as a bullish sign.

Was he fined in the past for manipulating the market, he was having fun with his social media account and can they even accuse him of manipulating the market for having his fun in social media. He does have a huge fan following and he could influence people and it is not a big surprise and the price of bitcoin rallied but now that gain is lost as the market is going down.

[Wawa2013]

I am very grateful to Elon Musk for doing that, because of those little things that Elon Musk did. Can make many people get interested in Bitcoin,
even some people immediately became panic buyers. It must be admitted that Elon Musk's popularity was very influential in making Bitcoin even
more recognized throughout the world. Even some online media have started writing articles related to Elon Musk supporting Bitcoin. In the end
this is positive news in my opinion, even not long after Elon Musk added #bitcoin to his twitter, the price of Bitcoin immediately pumped.

[CarnagexD]

"In retrospect, it was inevitable." Elon literally had become vocal in his support iwth cryptocurrencies and bitcoin in the past few years, even went so far as to include a pruchase option in Paypal for bitcoin, although of course it was not as cool as we thought it was when it was just about to be released, still, we can see how enthusiastic the guy is in his support for bitcoin, hopefully this carries on because more good publicity will be helpful for bitcoin's goal of reaching $100k

[rokon1234]

Elon Musk want to introduce his all followers about bitcoin,a lot of people are getting excited about Bitcoin and I think he is trying to convince his followers that, this is the right time to buy Bitcoin.

[fadhilz123]

Elon Musk is a big influencer, many people heard and obeyed her voice. This is the reason for every tweet he makes many people will immediately buy the coin that he mentioned. Imagine if 1K, 10K or maybe 100K people buy the same coins. Of course, the price will to the moon in a very short time

[Xxmodded]

Very crazy how come just tweet and change twitter bio and use bitcoin hastag could make bitcoin price up, lately he made Doge up to higher price after tweet with doge coin, maybe bad effect after his tweet because many trader and investor will buy coin although have raise to higher price, look what happen with many investor or trader after buying doge on higher price, how long they will waiting for doge back again above $0.08 and will be patient waiting doge back higher price or they sell doge on lower price.

[Trinx01]

Yeah, Elon Mush being the richest person in the world uses the #Bitcoin on his bio that affects the market, we have seen a great movement of bitcoin when he used that hashtag, we have also seen it with the dogecoin that goes up for about 700%. It is like magic, with a simple hashtag makes a big change.

[panganib999]

"In retrospect, it was inevitable." Elon literally had become vocal in his support iwth cryptocurrencies and bitcoin in the past few years, even went so far as to include a pruchase option in Paypal for bitcoin, although of course it was not as cool as we thought it was when it was just about to be released, still, we can see how enthusiastic the guy is in his support for bitcoin, hopefully this carries on because more good publicity will be helpful for bitcoin's goal of reaching $100k

I think Elon Musk isn't what we saw as it seems before because I think one lf his source of income is thru cryptocurrency. We only knew Elon Musk because of its company, the Tesla yet we I can also read about some articles where the cryptocurrency such as bitcoin is corresponded on his name. I think this idea of Elon putting #Bitcoin in his bio twitter will make a huge impact on the market knowing some people might be idolizing him and will also get into what he is up to. This simple act of putting bio will likely to have  big impact. Besides Elon Musk is the most rich person all over the world domination the last one before.

[virasog]

"In retrospect, it was inevitable." Elon literally had become vocal in his support iwth cryptocurrencies and bitcoin in the past few years, even went so far as to include a pruchase option in Paypal for bitcoin, although of course it was not as cool as we thought it was when it was just about to be released, still, we can see how enthusiastic the guy is in his support for bitcoin, hopefully this carries on because more good publicity will be helpful for bitcoin's goal of reaching $100k

I think Elon Musk isn't what we saw as it seems before because I think one lf his source of income is thru cryptocurrency. We only knew Elon Musk because of its company, the Tesla yet we I can also read about some articles where the cryptocurrency such as bitcoin is corresponded on his name. I think this idea of Elon putting #Bitcoin in his bio twitter will make a huge impact on the market knowing some people might be idolizing him and will also get into what he is up to. This simple act of putting bio will likely to have  big impact. Besides Elon Musk is the most rich person all over the world domination the last one before.

Let's suppose he tweets after few days that he has invested in bitcoins. This news will spread like fire among the institutions and we cannot image the hype which it will bring in the market. I am sure he has already invested in bitcoin but has not made it public yet.

[Xxmodded]

"In retrospect, it was inevitable." Elon literally had become vocal in his support iwth cryptocurrencies and bitcoin in the past few years, even went so far as to include a pruchase option in Paypal for bitcoin, although of course it was not as cool as we thought it was when it was just about to be released, still, we can see how enthusiastic the guy is in his support for bitcoin, hopefully this carries on because more good publicity will be helpful for bitcoin's goal of reaching $100k

I think Elon Musk isn't what we saw as it seems before because I think one lf his source of income is thru cryptocurrency. We only knew Elon Musk because of its company, the Tesla yet we I can also read about some articles where the cryptocurrency such as bitcoin is corresponded on his name. I think this idea of Elon putting #Bitcoin in his bio twitter will make a huge impact on the market knowing some people might be idolizing him and will also get into what he is up to. This simple act of putting bio will likely to have  big impact. Besides Elon Musk is the most rich person all over the world domination the last one before.

Let's suppose he tweets after few days that he has invested in bitcoins. This news will spread like fire among the institutions and we cannot image the hype which it will bring in the market. I am sure he has already invested in bitcoin but has not made it public yet.

I think you was wrong with Elon Musk and looks impossible with Elon Musk will bring wrong coin for tweet, I think he only tweets with coin without know the developer and only bitcoin and doge as his destination tweet only, this very good because bitcoin and doge do not have developer so he not make other become rich and get chance for their coin up, I think so far he never tweet with tron, xrp or other coin, lest support him for tweet coin like this exactly with bitcoin.

[Youghoor]

Elon Musk adding #Bitcoin to his twitter bio does not really influence mass adoption of Bitcoin. It will just made people buy bitcoin without understanding why they are buying it or what bitcoin is  and its purpose in the financial ecosystem. This will just make people lose money since they are just going to invest without knowing that Bitcoin market is very volatile. Not all of his followers have in-depth knowledge about Bitcoin investment and trading.

[tinopener]

I am sure he has already invested in bitcoin but has not made it public yet.

I was thinking the same. It seems like most institutions buy first then announce, for obvious reasons.

Then again, I still think it's risky for him to pump the market like this as he has been in trouble with the SEC for market manipulation, and although he wouldn't get in trouble in this instance, he probably knows that the SEC are delaying approving a bitcoin ETF because of potential market manipulation.

[skarais]

Let's suppose he tweets after few days that he has invested in bitcoins. This news will spread like fire among the institutions and we cannot image the hype which it will bring in the market. I am sure he has already invested in bitcoin but has not made it public yet.

I think he has done thing that really make a lot of people believe that in the near future the price of bitcoin will go up again. But you don't have to force yourself to believe that this will influence many investors to buy bitcoin on a large scale. There may be hype, but you should do your own analysis before investing. Next, maybe he will write any other altcoins he wants. Do you have to continue to believe what he said ?
Without it, bitcoin has the potential to benefit many people. Price fluctuation is used for profit. In the long term, this is a profitable asset for the large number of people who enter at the right time.

[icopress]

Let's suppose he tweets after few days that he has invested in bitcoins. This news will spread like fire among the institutions and we cannot image the hype which it will bring in the market. I am sure he has already invested in bitcoin but has not made it public yet.

Actually, as you can see from the quote, Elon already owns a small amount of bitcoins. I'm not sure about the investment, but I don't think he was lying, as it makes absolutely no sense. Yes, he may like Bitcoin or A Cypherpunk's Manifesto, but that does not mean that he is interested in investing, (I don’t think he’s interested in anything at all besides space). Elon needs to spend money now, and the main missing resource for him is time. I'm talking about the Interplanetary Transport System (ITS) and the fact that he has repeatedly stated that he wants to visit Mars. So I don't think #Bitcoin is one of his priorities right now.

That said, I still only own 0.25 BTC, which a friend sent me several years ago. Don’t have any crypto holdings.