Cryptocurrency News
What Elon Musk’s investment could mean for Twitter’s crypto plans
2022.04.05 16:16
What Elon Musk’s investment could mean for Twitter’s crypto plans
Whenever Elon Musk does something on Twitter (NYSE:TWTR), the crypto market moves in response. Publishing a tweet, changing his profile picture or adding “#Bitcoin” on his bio affects the markets — the latter even more so, sending Bitcoin (BTC) price up by 20%. This is why the community lies in anticipation of what Musk‘s Twitter investment could mean for the crypto industry.
Recent filings show that Tesla (NASDAQ:TSLA) CEO Elon Musk purchased a 9.2% stake on Twitter. This makes him the largest stakeholder in the platform. The news instantly pumped Twitter shares by more than 22% in early trading and sent Dogecoin (DOGE) near its two-month highs.
