Elon Musk Influenced Bitcoin Price Once Again, Predicted Imminent Mass Acceptance

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Elon Musk Influenced Bitcoin Price Once Again, Predicted Imminent Mass Acceptance

Billionaire, inventor, CEO of Tesla and SpaceX Elon Musk has recognized the main cryptocurrency. He said that at the moment he considers Bitcoin to be a good phenomenon and that it is on the verge of widespread acceptance and mass adoption, while he does not yet have a clear opinion about other cryptocurrencies. He also thinks that he should have bought bitcoin eight years ago. For the second time in a month, Elon's statements have influenced a significant rise in the price of the main cryptocurrency.

So, in January 2021, the head of Tesla posted a bitcoin hashtag on his Twitter account. After that, the cryptocurrency rate soared from 32 to 37 thousand dollars. "I have to be careful with what I say, it can affect the market," Musk later commented. In December, the billionaire asked on his Twitter account if it was possible to convert the entire Tesla balance to bitcoins. Prior to that, Musk, according to his statements, did not treat the first and main cryptocurrency as something serious.

The price of bitcoin has risen by about 200 percent since October last year. According to forecasts of some financiers, the cost of bitcoin may exceed $ 150 thousand by the end of 2021. Analysts also believe that interest in bitcoin, as well as its popularity and price, will grow in the next 5-10 years, regardless of how governments and central banks issue their digital currencies. At the same time, the fate of traditional assets, such as precious metals and, in particular, gold, does not seem so rosy to them and presumably its value will go down in the long term.