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Elon Musk, President and CEO of Tesla, has posted a tweet of a word illustrating the power of social media. Shortly after Musk tweeted the word "Ethereum," the second largest cryptocurrency in the world, Google Trends revealed a spike in Ethereum searches.
Ethereum
– Elon Musk (@elonmusk) April 30, 2019
Google Trends searches worldwide for Ethereum
Musk has 26.2 million followers.
He quickly followed his tweet with two letters: "jk".
jk
– Elon Musk (@elonmusk) April 30, 2019
The price of Ethereum was not a joke. Shortly after the tweet, the price started to evolve.
Lol good shit Elon pic.twitter.com/WUe5ETXXqU
– Chris Ragotero (@CuteBoyQ) April 30, 2019
It climbed to $ 158.04, erasing some of the day's losses, before falling back to $ 157.07 at the time of writing.
Ethereum table 1 day
Justin Sun, CEO of Tron, a competitor of Ethereum, has posted his own tweet.
TRON
– Justin Sun (@justinsuntron) April 30, 2019
Ethereum co-creator Vitalik Buterin has invited Musk for an upcoming developer conference in October.
Stop giving free ETH! ??
– Elon Musk (@elonmusk) April 30, 2019
On Friday, Musk reached an agreement with the US Securities and Exchange Commission (SEC) on its use of Twitter, social media, press releases and the company's website. According to the agreement signed with the Manhattan Federal Court, Musk's communications regarding Tesla, upcoming mergers and a list of company-related topics must now be approved by a securities lawyer before being published.
The agreement with the SEC follows a controversial tweet that Musk made last year when he announced on Twitter his intention to privatize Tesla at $ 420 per share.
Plans to take private Tesla at $ 420. Financing obtained.
– Elon Musk (@elonmusk) August 7, 2018
The SEC, however, cried foul and filed a lawsuit against Musk alleging that it had misled shareholders and was not as close to acquiring such financing as it had indicated. The accusations of fraud have brought down the price of Tesla.
Friday's deal with SEC says Musk is completely free to tweet about Ethereum, Dogecoin, Bitcoin or any other cryptocurrency. They are not on the list of SEC topics requiring prior approval.
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