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Elon Musk Wants Bitcoin to Soar Higher

Elon Musk wants Bitcoin to aim even higher!

Bitcoin just keeps on flying higher and higher, and personalities like Elon Musk are quick to do their parts in helping the world’s number one digital currency by market cap achieve its potential peak.

Elon Musk says “Bitcoin Is Going “To the Moon”

The South African entrepreneur behind billion-dollar companies like Tesla and SpaceX seems to pace back and forth between his love for Dogecoin and Bitcoin. While Bitcoin is considerably larger, there is a special aspect of Doge that seems to tug at Musk’s heartstrings now and again. Lately, Musk commented that he was hoping to fly Dogecoin to the moon and just leave it there. He wanted to fly some units of Doge all the way up to the lunar neighbor and leave it on its surface.

Because of this, the comments have seen Dogecoin spiking once again, and now it seems like Musk is hoping to do the same for Bitcoin. He seems to realize that whatever his comments are, they have an impact on the crypto space, and when he wants to see the assets to do well, he will simply jump on Twitter and begin messaging his followers about them.

In a sequence of tweets, Musk commented that Bitcoin was “going to the moon very soon.” Starting there, Bitcoin rose to around $60,000 per unit. This quickly caused many industry heads to begin predicting, and messages from Danny Scott – the chief executive of Coin Corner, a cryptocurrency exchange on the Isle of Man – started to flood the social media.

As an answer to Musk’s words, Scott wrote:

“SpaceX buying bitcoin?”

This could be a sight to see. Musk has already managed to gather $1.5 billion in Bitcoin via Tesla. By this stage, investors could not be shocked if Musk were to travel this path.

However, it is not just Musk that opened his mind and heart to the cryptocurrencies. Many institutions have been taking notice of the asset. Hence, the currency is making its way deeper into the mainstream territory, which can explain its massive price spikes in the past few months.

Many People are Seeing Bitcoin in a New Light

Stephen Kelso the head of capital markets at ITI Capital, elaborated in a recent interview:

“Until recently, established brokers, advisors and banks wrote-off crypto as ‘too volatile’, just as they did with today’s household tech brands 20 years ago, failing to recognize it as a legitimate asset-class in advice issued to investors. Now, we are seeing a dramatic change in approach from asset and wealth managers, who increasingly advise their clients that bitcoin is a preferential investment over gold.”

As of now, a unit of Bitcoin is trading just over $59,800.

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