{"id":39354,"date":"2021-01-29T13:23:44","date_gmt":"2021-01-29T13:23:44","guid":{"rendered":"https:\/\/packetstormsecurity.com\/news\/view\/31973\/Bitcoin-Soars-14-After-Elon-Musk-Namecheck-On-Twitter.html"},"modified":"2021-01-29T13:23:44","modified_gmt":"2021-01-29T13:23:44","slug":"bitcoin-soars-14-after-elon-musk-namecheck-on-twitter","status":"publish","type":"post","link":"https:\/\/www.threatshub.org\/blog\/bitcoin-soars-14-after-elon-musk-namecheck-on-twitter\/","title":{"rendered":"Bitcoin Soars 14% After Elon Musk Namecheck On Twitter"},"content":{"rendered":"
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By Tom Wilson<\/a>, Thyagaraju Adinarayan<\/a><\/p>\n

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3 Min Read<\/p>\n<\/div>\n<\/div>\n

LONDON (Reuters) – A \u201c#bitcoin\u201d tag on Elon Musk\u2019s Twitter profile page led to a 14% jump in the cryptocurrency on Friday, the latest in a series of market moves triggered by comments on his social media account.<\/p>\n

The Twitter handle of the world\u2019s richest person has joined the growing list of things to watch for those trading stocks for personal or professional purposes, and comes amid the rising prominence of the\u2019WallStreetBets\u2019 Reddit chat room that drove skyrocketing gains for GameStop shares.<\/p>\n

That forum grabbed Musk\u2019s attention too when he tweeted \u201cGamestonk!!\u201d on Tuesday, along with a link to the Reddit stock trading discussion group behind the year-to-date 2,500%-plus rally in the video game retailer.<\/p>\n

\u201cStonks\u201d is a tongue-in-cheek term for stocks widely used on social media. His supporters in the Reddit forum affectionately refer to him as \u201cPapa Musk.\u201d<\/p>\n

Justifiably, his tweets led to surges in other stocks too.<\/p>\n

Shares of fast-growing Polish game developer CD Projekt soared 16% on Thursday after Musk tweeted: \u201cThe esthetics of Cyberpunk are incredible btw….\u201d. Cyberpunk is the company\u2019s flagship game.<\/p>\n

Similarly, online retailing platform Etsy\u2019s stock jumped 9% on Tuesday right after Musk tweeted: \u201cI kinda love Etsy\u201d. He said he bought a \u201chand knit wool Marvin the Martian helm\u201d for his dog.<\/p>\n

\n

FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken January 8, 2021. REUTERS\/Dado Ruvic<\/figcaption><\/p>\n<\/figure>\n

Shares of his own firm Tesla dipped 1.2% this week after a rally of nearly 700% over the last year.<\/p>\n

BITCOIN RALLY<\/h2>\n

Bitcoin, meanwhile, riding on Musk\u2019s tag, was up 10.2% to $36,901 by 1505 GMT on Friday.<\/p>\n

The cryptocurrency jumped over 300% last year, as bigger U.S. investors and corporations sought exposure to it, and touched an all-time high of $42,000 last month.<\/p>\n

In December, Musk asked about the possibility of converting \u201clarge transactions\u201d of Tesla\u2019s balance sheet into bitcoin, in a Twitter exchange with a well-known advocate for the digital currency.<\/p>\n

\u201cThat would be a very big deal,\u201d said Christopher Bendiksen of digital asset manager CoinShares on Friday.<\/p>\n

Traders also cited positive comments on bitcoin by hedge fund manager Ray Dalio as supporting sentiment.<\/p>\n

The Bridgewater Associates founder wrote on Thursday that the cryptocurrency was \u201cone hell of an invention,\u201d adding that he viewed it as a \u201cgold-like alternative asset.\u201d<\/p>\n

Smaller cryptocurrencies including ethereum and XRP that tend to move in tandem with bitcoin also jumped, as much as 5% and 8% respectively.<\/p>\n

(Graphic: Bitcoin’s blistering 2020 rally )<\/p>\n

\n
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Reporting by Tom Wilson and Thyagaraju Adinarayan. Editing by Rachel Armstrong, Mark Potter, Kirsten Donovan<\/p>\n<\/div>\n<\/div>\n

READ MORE HERE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

READ MORE HERE…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","footnotes":""},"categories":[60],"tags":[7083],"class_list":["post-39354","post","type-post","status-publish","format-standard","hentry","category-packet-storm","tag-headlinebankcryptography"],"yoast_head":"\nBitcoin Soars 14% After Elon Musk Namecheck On Twitter 2026 | ThreatsHub Cybersecurity News<\/title>\n<meta name=\"description\" content=\"ThreatsHub Cybersecurity News | ThreatsHub.org | Cloud Security & Cyber Threats Analysis Hub. 100% Free OSINT Threat Intelligent and Cybersecurity News.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.threatshub.org\/blog\/bitcoin-soars-14-after-elon-musk-namecheck-on-twitter\/\" \/>\n<meta property=\"og:locale\" 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