The crypto-verse, especially Bitcoin [BTC] was on a major roller coaster ride. The crypto market proved to be immensely volatile. This, however, did not stop the endorsements or investments. Several mainstream companies poured into the industry. The immaculate price change of BTC even got SpaceX’s CEO, Elon Musk more invested in the industry.
Bitcoin Eyes Broad Acceptance
Elon Musk has time and again asserted his support for the crypto industry. Previously, Musk had revealed that Dogecoin [DOGE] was his favorite cryptocurrency. Things seemed to have changed as Musk recently went on to change his Twitter bio to “#bitcoin”. This wasn’t all, Forbes recently reported that the king coin wasn’t very far off from being widely accepted.
In an interview on the Clubhouse application, Musk revealed his stance on BTC as well as other cryptocurrencies. He stated,
“I do at this point think bitcoin is a good thing. […] “I am a supporter of bitcoin. I am late to the party but a supporter. I think BTC is on the verge of getting broad acceptance by conventional finance people.”
Furthermore, Musk stressed the fact that he did not have a strong opinion on other cryptocurrencies.
Previously, Musk has been the reason behind the pump of coins like DOGE. Therefore, he added, “I have to be careful what I say, it can affect the market”. However, the latest addition of BTC to his Twitter price had urged the price of BTC to move past $35K. While this didn’t persist, Bitcoin was back at $34,898 during the time of writing. As almost all the other assets were on a surge, BTC was bagging dainty gains. Despite this, BTC was on top with a market cap of $646.4 billion.
Elon Musk’s latest remarks sparked up an array of tweets. From Tyler Winklevoss to Sawyer Merritt, an array of people acknowledged Musk’s latest comment on Bitcoin. One such tweet read,