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Musk Excites Bitcoin Community: Will He Join?

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There has been a development that has sparked intense debate in the Bitcoin community: Tesla CEO Elon Musk has updated his X (formerly Twitter) profile picture with “laser eyes” symbolizing bullish sentiment towards BTC. This change comes just days before the Bitcoin 2024 conference, which will be held in Nashville on July 25-27. Prominent figures such as US presidential candidate Donald Trump are expected to speak at the conference. Here are the details…

Bitcoin community is excited by Elon Musk move

Rumors that emerged last week have increased expectations around the conference. Trump could allegedly consider BTC as a potential reserve asset if he wins the November presidential election. Satoshi Act Fund founder Dennis Porter drew attention to an unconfirmed leak in a post on X that Trump plans to announce the “US Bitcoin strategic reserve” in Nashville.

Bitcoin Magazine CEO David Bailey, who has been hyping the impact of the upcoming conference on social media, said, “I apologize in advance for crashing the internet.” In response to Musk’s new profile picture, Bailey shared a screenshot of the caption, “ARE YOU READY?” along with a series of meaningful emojis. Industry reactions were swift and varied. Dennis Porter commented on Musk’s move via X, saying, “BIG: Signals suggest Elon may be back in Bitcoin.” MicroStrategy CEO and BTC advocate Michael Saylor tweeted, “Laser Eyes are back in style. #Bitcoin.”

What do the experts say?

Speculating on the implications of Musk’s new profile picture, renowned crypto analyst Scott Melker, aka “The Wolf Of All Streets,” suggested that the change could be a sign of a major announcement: “Musk changed his profile picture to laser eyes. Bitcoin Magazine CEO says (Bitcoin conference) ARE YOU READY. If it’s what I think it is, this week is going to get even crazier.”

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Fox Business correspondent Eleanor Terrett speculated about Musk’s possible attendance at the conference, saying, “If this is a sign of another big guest announcement, the only person who could break the internet bigger than Trump at this point is Elon Musk. It would make sense. Trump is a friend of his, he loves Bitcoin, and this is shaping up to be the biggest fomo event in crypto. I’m just speculating, but it would be awesome if Elon came to Nashville.”

There may be no BTC move

However, some observers believe Musk’s new profile picture does not signal renewed support for BTC. Autism Capital, a prominent figure in the X community, suggested that both Marc Andreessen and Elon Musk’s new profile pictures symbolize a broader movement, not directly related to BTC: “Both Marc Andreessen and Elon have wartime PFPs. A new dawn,” it said.

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Steven Lubka, Head of Private Clients and Family Offices at Swan, made a different comment, saying, “Elon’s Laser eyes are coming after Marc Andreessen and are connected to e/acc. This is not a Bitcoin thing.” As of press time, BTC was trading at $67,620.

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