Elon Musk is the most influential person on Twitter and with the largest number of followers. Today, after simply saying hello to his community, Musk received a wave of bullish comments from Crypto Twitter users who were apparently inspired by Bitcoin’s jump above the $50,000 level on Monday.
Elon Musk is the most influential person on Twitter and with the largest number of followers. Today, after simply saying hello to his community, Musk received a wave of bullish comments from Crypto Twitter users who were apparently inspired by Bitcoin’s jump above the $50,000 level on Monday.
Musk faces bullish crypto sentiment as Bitcoin hits $50,000
Elon Musk, centibillionaire and head of Tesla,
The cryptocurrency community seems to be tremendously excited about the world’s flagship cryptocurrency, Bitcoin, which soared above the price of $50,000 a day earlier but is exchanging hands in the $49,900 range at the time of writing after a setback. marginal.
Bitcoin finally surpassed the $50,000 mark thanks to the continued accumulation of massive BTC chunks from Bitcoin ETFs over the past month. These spot assets were approved by the Securities and Exchange Commission a month ago, in January, and the aforementioned record price level was surpassed on February 12.
Main reason behind the rise of Bitcoin
According to venture capital investor and entrepreneur Anthony Pompliano, who appeared on CNBC’s Squawk Box on Monday, Bitcoin has become Wall Street’s favorite asset. He noted that currently, while miners produce 900 BTC per day, Bitcoin ETF issuers are making 12.5 times that amount.
“The march to a new all-time high is underway if this continues,” Pomp tweeted.
Samson Mow’s BTC Bullish Statement
Bitcoin maximalist and Jan3 CEO Samson Mow expects Bitcoin to unexpectedly skyrocket to the million-dollar mark. He noted that in 2017, Bitcoin rose 20-fold in nine months “without fundamental changes in market dynamics.”
In 2024, Bitcoin ETFs holding Bitcoin in gigantic amounts “are generating hundreds of millions of dollars in inflows every day. Plan accordingly.”
Mow has already gone on to count the price of Bitcoin on the “$1 million scale,” referring to $50,000 as $0.05 million, $100,000 as $0.1 million, etc.
He suggested that if someone finds it hard to believe that Bitcoin will skyrocket 20x quickly, they should wait for BTC to reach $100,000, and then perhaps it would be easier to wait for a 10x price increase.
