The world’s richest man, Elon Musk, has put Bitcoin as the only word in his Twitter bio. As a result, the price of bitcoin skyrocketed.
- Elon Musk, the CEO of Tesla has put Bitcoin as the only word in his Twitter bio.
- The high-ranked executive also tweeted minutes later that “in retrospect, it was inevitable.”
- What’s interesting is how this impacted Bitcoin’s price.
- In less than a few minutes, BTC jumped from a low of around $32,070 to a high of around $37,060 – adding $5,000 to its dollar value.
- However, the price has since corrected and is currently trading at about $35,500, at the time of this writing.
- It’s also worth noting that this led to massive liquidations on the Bitcoin market. Data from Bybt shows that over $380 million were liquidated in the past hour alone.
- 82% of that are short positions, while the largest single liquidation order had a face value of $10 million on BitMEX’s BTC market.