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Bitcoin crossed $ 60,000 amid huge bull run partly powered by Tesla
TSLA
The price of bitcoin broke through the psychological barrier early on Saturday morning, returning to its meteoric bull market of early 2021 after taking a hiatus in recent weeks.
Before bitcoin’s surge of over $ 60,000, Tesla chief executive Elon Musk, known to move the price of bitcoin with his tweets, called on the popular bitcoin and cryptocurrency exchange Coinbase to support dogecoin based on memes.
Tesla CEO Elon Musk has long been a strong supporter of bitcoin and … [+]
dpa / photo alliance via Getty Images
“Do you think Coinbase should enable dogecoin on its platform,” a Twitter user asked in response to Musk’s tweet: “BTC (bitcoin) is an anagram of TBC (The Boring Company). What a coincidence!”
“Yes!” – was Musk’s response. Dogecoin has added nearly 10% since then, although Musk’s ability to move the price of dogecoin appears to have waned recently.
San Francisco-based Coinbase, slated to go public in a $ 100 billion hit list, currently supports 49 different cryptocurrencies to varying degrees, but has so far refused to list Shiba-inspired dogecoin. Inu.
Interest in dogecoin has exploded as bitcoin, by far the largest cryptocurrency with a total value of around $ 1.1 trillion after its latest wave, soared thanks to a combination of institutional adoption of Wall Street, corporate interest and retail traders who have piled up in the market.
The price of dogecoin has risen nearly 10% since Tesla CEO Elon Musk called Bitcoin and … [+]
Coinbase
Elon Musk’s Tesla set the bitcoin and cryptocurrency market on fire by revealing that he bought $ 1.5 billion worth of bitcoin last month.
Dogecoin, a 2013 bitcoin clone described as a “joke” by its creator skyrocketed in early February, reaching a total value of over $ 10 billion thanks to a memes-based campaign that included the billionaire investor in technology Mark Cuban, rockstars and YouTubers among his supporters.
However, Musk, who was elected CEO of dogecoin in a 2019 Twitter poll, previously said not all of his dogecoin-related tweets are meant to be taken seriously.
“Every once in a while I make dogecoin jokes, but they’re really meant to be jokes,” Musk said last month, in an interview on the Clubhouse invite-only chat app.
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