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Bitcoin surges to almost US$45,000 after Tesla discloses purchase

Bitcoin surges to almost US$45,000 after Tesla discloses purchase
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All-time Record 22M+ Unique BTC Addresses Active on Bitcoin Network in Jan 2021, while Ethereum on Exchanges Hits Historic Low: Report

Bitcoin surges above $38,000 after Musk adds to Twitter profile

Bitcoin surged above $38,000 after Tesla Inc. founder Elon Musk mentioned the cryptocurrency on his Twitter profile. Musk’s page on Twitter simply said #bitcoin with no further explanation, but speculation that the world’s richest man might be a Bitcoin investor was enough to set off a dramatic rally. Prices spiked as much as 15% in a matter of minutes, the biggest intraday move in almost a year. Bitcoin later pared its gains. The cryptocurrency was up 14% to $37,957 as of 8 a.m. New York time, after jumping as high as $38,089. It reached a record of almost $42,000 on Jan. 8. “Obviously this huge melt-up is due to Elon’s tweet,” said Antoni Trenchev, managing partner and co-founder of Nexo in London, which bills itself as the world’s biggest crypto lender. Musk’s support for Bitcoin “creates a safe zone for some of the smaller companies and possibly everyone in the S&P 500 to allocate into Bitcoin,” he said.

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