đ¨đ¨ Bitcoin's 1,000% Surge Since Elon Muskâs First Tweet! đ¨đ¨
Today marks the anniversary of Elon Muskâs first public endorsement of Bitcoin on X (formerly Twitter). Over the past six years, Bitcoin has experienced a stunning surge of more than 1,000%! Letâs break down the impact of this historic moment:
đ Six Years Ago:
In October 2018, Bitcoin was trading at $6,400 when Musk made his first public comment on Bitcoin, asking a witty question about buying BTC.
Despite being in a bear market back then, this moment signaled the start of a journey that would revolutionize Bitcoinâs place in the financial world.
đĽ Bitcoinâs 10X Surge:
Since Muskâs initial tweet, Bitcoin has surged by more than 1,000%, reaching an all-time high of $73,750 in March 2024.
Although Bitcoin trades at $67,500 today, it still reflects an impressive gain of over 900% compared to its price in 2018.
⨠Key Milestones Along the Way:
Tesla's Support: In 2021, Muskâs company, Tesla, began accepting Bitcoin as payment for electric cars, boosting BTCâs visibility.
Hodling Strong: Tesla currently holds 9,720 BTC, valued at over $699 millionâa testament to Muskâs continued belief in Bitcoinâs potential.
đĄ Muskâs Bitcoin Philosophy:
Musk has repeatedly highlighted Bitcoinâs store of value in an era of negative real interest rates on fiat currencies.
Despite acknowledging some flaws in Bitcoin, he considers it a powerful alternative to traditional money.
đ Historical Impact:
In a recent post, Pete Rizzo, editor at Kraken, commemorated Muskâs original tweet, noting how it subtly pushed people to consider investing in Bitcoinâresulting in massive gains for early adopters.
đ¸ Bitcoinâs Journey:
1,052% growth from Muskâs October 2018 tweet to its all-time high.
Todayâs price of $67,500 reflects the transformative power of crypto and how Muskâs endorsement helped shape Bitcoinâs rise.
â ď¸ Disclaimer: This content is for informational purposes only and should not be considered financial advice.
