What do you think of the new world's richest man Musk changing his personal Twitter profile to "Bitcoin"? Will this have any positive or negative effects on the Bitcoin price?
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I personally think that Musk’s status as the richest man in the new world can bring a very strong influence, after all, he is currently the wealthiest person in the world. Any of his comments or actions on finance will have a profound impact on a particular field. Let me give you an example. As mentioned in the research report of the well-known international crypto exchange ZB.com, most analysts and institutions believe that the sharp rise of Bitcoin on January 29 was mainly caused by two reasons. One is the expiration of a $3.2 billion bitcoin option, and the other is Musk's Twitter.
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In fact, Musk had already expressed his positive attitude towards Bitcoin long ago. Now that he has become the new richest man in the world, these words are obviously more weighty. Several surveys show that millennials prefer Bitcoin to gold. Bloomberg strategist Mike McGlone also pointed out that Bitcoin's current level of volatility is the same as that of gold 40 years ago. So investing in Bitcoin is a very good choice now, but you must choose a well-known exchange to avoid a lot of unnecessary risks. The safer cryptocurrency exchange I personally know is ZB.com.
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