Here We Go Again… As Bitcoin Nears $40,000, Tesla CEO Elon Musk Has Sent The Dogecoin Price Sharply Higher

Bitcoin has broken out over the last few days, climbing almost 15% since the beginning of the week.

The bitcoin price has climbed as MicroStrategy MSTR chief executive and bitcoin advocate Michael Saylor hosts a virtual bitcoin conference to help companies buy bitcoin and Visa Vrevealed its plans to help banks roll out bitcoin-buying services.

Now, Elon Musk, Tesla’s TSLA meme-happy chief executive, has sent the “joke” cryptocurrency dogecoin sharply higher, tweeting: “Dogecoin is the people’s crypto.”

Musk, who this week said he would be going “off Twitter for a while,” added: “No highs, no lows, only doge.”

Last week, Musk sent the bitcoin price sharply higher when he gave bitcoin a long-awaited tacit endorsement following restrictions being placed on the trading of company shares that have become a battleground for bullish retail traders organised via Reddit’s WallStreetBets forum and Wall Street hedge funds that have long been shorting the stocks.

News source

“If you liked the article, share it in ...”