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Author: Admin | 2025-04-27
Price has surged to around $100,000 per bitcoin, helped by Wall Street adoption, Donald ... [+] Trump's support and Tesla billionaire Elon Musk's warnings of U.S. dollar collapse.Forbes Digital AssetsIf bitcoin and crypto do come to X, some have predicted it could cause a bitcoin price boom similar to PayPal's support for bitcoin and crypto that helped kick off the 2021 bitcoin price bull run.While Musk has refrained from commenting on bitcoin or crypto directly in recent years, his support of Trump in the run up to the November U.S. presidential election helped drive the bitcoin price higher as traders bet on Trump leading a pro-bitcoin and crypto administration.Musk also campaigned against excessive U.S. spending, resulting in the creation of the Doge Department Of Government Efficiency, which Musk has said he believes could strip $2 trillion from U.S. spending.The Doge department is a nod to the shiba inu doge meme that's also linked to the dogecoin cryptocurrency, named by Elon Musk as his "favorite" cryptocurrency and accepted as payment by his Tesla car company—though Tesla continues to hold around 10,000 bitcoin worth around $1 billion on its balance sheet.
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