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
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.
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.
Mention your own website in this post for Advertisement

Last News

Klopp rips Leeds, Neville's Super League reactions

Prince Harry prepares to return to LA after funeral

AnnaLynne McCord Reveals Her Dissociative Identity Disorder Diagnosis: I'm 'Uninterested in Shame'

Sen. Schumer to introduce COVID-19 Hate Crimes Act

Amy Klobuchar and Lindsey Graham call on Biden to resettle Yazidi women enslaved by ISIS

Los Angeles Has 5 Current Covid-19 Outbreaks Involving Schools — All Associated With Youth Sports