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Elon Musk posts a raunchy tweet about bitcoin hitting $69,000 - and the crypto community loves it

Markets Insider
Markets Insider
 2021-10-21

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Elon Musk

Tesla CEO and cryptocurrency champion Elon Musk on Thursday posted a raunchy tweet about bitcoin's record high of $69,000 the day before, prompting responses from thousands of users.

The cartoon featured a man and a woman in bed watching bitcoin stand at $69,000 on their TV, followed by a comparatively lackluster ether at $4,200.

His tweet might have been inspired by the fact that bitcoin rallied to a record of nearly $67,000 on Wednesday, following the successful launch of the ProShares' Bitcoin Strategy ETF, the first futures fund.

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Elon Musk tweet
Following the launch of the ETF, many market experts believe bitcoin could climb to $80,000 in the near term and even up to $168,000 over the longer term.

The billionaire's tweets have in the past caused coins such as bitcoin, dogecoin and even shiba inu to rise in price, although his post on Wednesday didn't elicit much reaction in the market.

Tesla holds 42,902 bitcoins now worth almost $2.8 billion, according to Bitcoin Treasuries . However, the company reported it had a $51 million impairment on those holding in the third quarter.

Read the original article on Business Insider

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