Bitcoin jumped as much as 14% on Friday to a two-week high after Tesla Inc chief Elon Musk tagged the cryptocurrency in his Twitter biography.
Musk wrote simply “#bitcoin” in his biography on the social media site. The world’s biggest cryptocurrency was up 10.2% at $36,901 as of 1005 GMT.
The billionaire entrepreneur, followed by 43.8 million users on Twitter, has a record of making market-moving comments on the site.
The announcement came after two weeks in which comments from CEO Elon Musk encouraged small-time investors to buy bitcoin and meme-based digital currency Dogecoin.
I think I understand now 😞https://t.co/MRTTnEM8Nx
— Gauthier GARNIER (@gauthiergarnier) February 8, 2021