Twitter CEO Jack Dorsey sparks frenzy with cryptic bitcoin tweet
A mystery tweet from the social media giant caused a stir among crypto fans, who were rushing to try to figure out what it meant.
Twitter CEO Jack Dorsey sent cryptocurrency enthusiasts into a frenzy with a mysterious tweet.
The social media giant founder simply tweeted the number 705742 causing crypto fans to do some sleuthing to uncover what it meant.
Some indicated it might be Mr Dorsey’s prediction for when bitcoin would surpass its prior all-time high.
One Twitter user asked: “Block number?”, which was the amount of bitcoin that was mined not long after the tweet went out, according to Blockchain.com. The process of crypto mining generates bitcoins every 10 minutes.
705742
— jackâš¡ï¸ (@jack) October 19, 2021
Mr Dorsey followed up the tweet with another that said “off by 117” just minutes after bitcoin hit a new high when the mining of the crypto hit 705,859.
Bitcoin surged to its new pinnacle overnight, hitting $A88,900 on Wednesday, after taking another step towards mainstream status as the world’s most popular cryptocurrency forayed onto Wall Street.
A bitcoin futures exchange-traded fund (ETF), a type of financial instrument, launched on the New York Stock Exchange. The new fund is a more accessible vehicle that puts bitcoin within the grasp of even more investors.
Tony Sycamore, APAC market analyst at City Index, said bitcoins all-time highs were supported by the successful launch of the first bitcoin ETF and comments from legendary macro trader Paul Tudor Jones that the crypto is a better hedge against inflation than gold.
According to international money trader Forex Suggest, its analysis found that by 2024 three cryptocurrencies are on track to break into the top 10 best performing assets, including shares and commodities.
Bitcoin is projected to be the fifth strongest performing asset by 2024 with an estimated market value of over $US5 trillion thanks to its 103.5 per cent average annual growth rate, Forex found.
It would mean that the crypto would surpass long-standing giants including Microsoft, Amazon and Google by over $US1 trillion.
Bitcoin is currently dipping in and out of the top 10 highest value assets, but in just a few short years it could solidify its place, it claimed.
Meanwhile, Gryphon Digital Mining CEO and director Rob Chang, predicts bition will peak at $A111,000 this year, attributing his prediction to the onset of widespread bitcoin adoption.
“I believe we are in the opening stages of rapid bitcoin adoption that will spread past El Salvador and Twitter and into more traditional areas. As this occurs, the general public will be increasingly exposed to bitcoin and this shift from obscurity into the mainstream will catapult bitcoin prices higher for the next few years,” he said.
A Finder report found that by the end of 2025 and 2030, bitcoin prices are expected to skyrocket to an average of $US249,578 and $US5,237,082, respectively
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