Musk added #bitcoin to his Twitter bio, prompting the cryptocurrency’s value to jump once again.
Elon Musk and other long-term investors have cryptocurrencies surging
Elon Musk's tweet of support for Bitcoin and Dogecoin have both cryptocurrencies as valuable as ever.
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In terms of Dogecoin, Musk said that “fate loves irony” and the most ironic outcome for the cryptocurrency, which was started as a joke, would be if it “becomes the currency of Earth in the future.”
As the cryptocurrency Bitcoin rallied again this week Wall Street bank leaders have been discussing classifying Bitcoin as a “legitimate asset class."
Exciting, mysterious and highly volatile, Bitcoin is hard to ignore after the decade it just had.
BTC has gained more than 1,100% in value since March 2020, Reuters says.
Long-term investors now hold nearly 80% of the estimated available bitcoins.