Bitcoin Surges to $37K After Elon Musk Adds ‘Bitcoin’ to Twitter Bio

Anyone who has invested in Bitcoin might be surprised to see a sudden spike today, marking a 10-day high.

The cryptocurrency picked up a bid near $32,000 at around 08:30 UTC and jumped to $37,050, the highest level since Jan. 19, according to CoinDesk 20 data. The 15.7% rise happened in less than 15 minutes and more than reversed the early dip from $34,400 to $32,000.

Whilst the exact reason for this is hard to define, it seems that prices started surging after Tesla and SpaceX CEO Elon Musk changed his Twitter bio to #bitcoin.


Reflecting Musk’s huge social media influence, Google searches for “bitcoin” surged following his bio change.


Google searches for the term “bitcoin.”
(Google, Coindesk)


The latest price rise marks an upward break of the recent $30,000 to $35,000 trading range. The cryptocurrency is currently trading near $36,100.

Source: Coindesk