Elon Musk Calls Bitcoin 'BS' In Tawdry Tweet, Causes 20% Dogecoin Surge

What Happened: Elon Musk commented on the rapidly rising price of Bitcoin and, as we say, how it affects the ability to concentrate.
Scroll to continue with the content
display
Microsoft - New Age of Business
Learn the key to corporate agility from our experts
Learn how to adopt predictive and proactive operations that will increase performance and protect sales in the new normal.
LEARN MORE
He added that he thinks Bitcoin is "almost as bad as fiat money".
Musk later also tweeted in support of Dogecoin, a cryptocurrency he previously endorsed. The cryptocurrency then rose 20%, according to TradingView.
Why It Matters: The founder of Tesla Inc (NASDAQ: TSLA) and SpaceX has made fun of cryptocurrencies in the past. He previously said he owns "only .25 bitcoins" in a conversation with Harry Potter creator J.K. Rowling on Twitter.
And in July, Musk tweeted about Dogecoin, jokingly calling himself a former Dogecoin CEO in his bio. The digital currency rose 14% within a few hours.
Price Action: Bitcoin was trading at $ 23,720 around noon on Sunday, EST. For the first time in its history, it briefly topped the $ 24,000 level on Saturday.
Dogecoin was trading at $ 0.00444.
Photo source: everipedia.org
See more from Benzinga
Click here for Benzinga option trades
Bitcoin price briefly touches, 000
When Bitcoin surpasses K again, analysts see K levels
© 2020 Benzinga.com. Benzinga does not offer investment advice. All rights reserved.

You should check here to buy the best price guaranteed products.

Last News

Michael Phelps Has 'No Desire' to Swim Professionally Again, but Might If His Kids Ask Him to

5 Tips for Maximizing Your Landscaping Budget to Create the Yard of Your Dreams

Use Chamomile as a Summer Ground Cover To Carpet Your Lawn in Flowers

U.S. new home sales fall more than expected in June

Ashley Graham Channels 'Earth Mother Vibes' In Latest Bare Baby Bump Photo

‘Howard the Duck’ Team: Robin Williams Quit After One Week Over ‘Insane’ Voiceover Process