Previously, Elon Musk twitted about Signal app and thousand of people switched from WhatsApp to Signal messaging app after WhatsApp changed it’s privacy policies and the company not only saw increase in its user base but also in share prices. Now Musk has once again out did himself by merely changing his Twitter bio and tagging #bitcoin.
Ever since the change in his bio, Bitcoin prices has increased by 14%. Elon Musk has a following of 43.7 million people and has set record of making markets rise & fall by just his simple comments.
Bitcoin on Friday was trading at $37,800 – a cryptocurrency who has already been climbing the charts. This has lead to various memes circulating online and many have been calling it the “Musk Effect”.