The cryptocurrency Bitcoin saw a huge rise of 20%, a few hours after the businessman’s tweet and the richest person in the world, Elon Musk.
According to the American CNBC network, Elon Musk added in his biography the word bitcoin on his Twitter page and then posted a tweet to him saying, “In retrospect, it was inevitable,” “Later, it was inevitable,” referring to the bitcoin currency, which he added to his CV.
The tweet contributed to severe fluctuation in the stock exchange, which led to the rise of Bitcoin to 20% after the currency had depreciated a few days ago after setting record numbers weeks ago.
Bitcoin currency has crossed the $ 40,000 barrier over the past few weeks, in a rise that is the largest ever in the history of cryptocurrencies, as its value increased by 30% since the beginning of the year, rising to more than 25% in less than one week.
This was not the first time that businessman Elon Musk caused a huge rise in the stock market, as GameStop’s shares rose hours after his tweet, and the Signal Signal chat application witnessed a significant increase in the number of users during the past days, after encouraging users to switch to the application. And give up WhatsApp by tweeting too.
But why the huge revenues did not go to Signal’s application alone, like shares of a little-known company called Signal Advance, whose shares are traded on the stock exchange by less than 60 cents per share, rose dramatically, reaching $ 7.19 per share.