Bitcoin Gains 5%, After Elon Musk Tweet

By | March 24, 2021

Roughly 8 hours ago Elon Musk posted a tweet on his twitter handle. He made an announcement that we already knew was coming. Tesla will start accepting payments here in the United States in the form of Bitcoins. This led to the price of BTC gaining more than 5% in the last 8 hours. Experts speculate the price will rise even more given the magnitude of the announcement. 

  • Elon Musk announces a new payment option to buy Tesla (Bitcoin)

  • Currently only in the United States but promises to bring that option to other countries later during the year 

  • Post announcement Bitcoin sees a boom of 5%

  • Likely to gain more in the coming hours 

“Tesla is using only internal & open source software & operates Bitcoin nodes directly,” he said. “Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.”

#Elon, #Tesla, #Bitcoin has been trending hashtags on twitter for the last few hours. This makes it a perfect opportunity for investors to invest in the coin. The coin will likely rise in the shorter term, which is an ideal situation to make some quick money. The impact on the long term will also be huge given the meteoric rise in the crypto industry this year. 

Bitcoin has gained over 700% because of Elon Musk’ tweets, interactions and investments in the crypto industry.The tesla technoking has been a firm believer in the digital currency. Elon, in the last month disclosed an investment of more than $1.5 Billion in BTC. 

With more companies investing in the new currency, the general public will soon find a shortage of supply in these coins. The demand is predicted to rise but the shortage of supply will lead to an even steeper price for the coin.

Category: Bitcoin Crypto

About Safdarali Rizvi

Safdarali Rizvi the management graduate. Has been an avid book reader all his life so naturally loves playing with his words. His curiosity for discovering futuristic opportunities lead him to explore the world of cryptocurrencies. He has a real passion for calisthenics and sports. His management abilities and hunger for learning brings tremendous value to our team.

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