LONDON, Jan 29 — Bitcoin jumped as much as 14 per cent today 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 cryptocurrency was trading at US$37,800 (RM152,675) as of 0936 GMT.
The billionaire entrepreneur, followed by 43.7 million on Twitter, has a record of making market-moving comments on the site.
GameStop Corp, which has been at the centre of retail trading frenzy, surged 50 per cent on Tuesday after Musk tweeted “Gamestonk!!”, along with a link to the Reddit Wallstreetbets stock trading discussion group.
There, supporters affectionately refer to him as “Papa Musk.” “Stonks” is a tongue-in-cheek term for stocks widely used on social media.
In December, Musk asked about the possibility of converting “large transactions” of Tesla’s balance sheet into bitcoin, in a Twitter exchange with a well-known advocate for the digital currency. — Reuters
