Bitcoin surged early on Friday after Elon Musk tagged the cryptocurrency in his Twitter biography.
The price of bitcoin
was last up 11% at $36,955, according to Fintech Zoom prices, after the Tesla
Chief Executive appeared to express support for the cryptocurrency. After changing his Twitter
bio to #bitcoin, he then tweeted “In retrospect, it was inevitable.”
Earlier this week, Musk waded into the battle between short sellers and retail traders over videogames retailer GameStop
tweeting a link to Reddit’s WallStreetBets forum along with the word “Gamestonk!!”