Tesla CEO Elon Musk has said that bitcoin is a "good thing" and that it is set to get mainstream attention.
"Elon Musk wrote simply "#bitcoin" in his biography on the social media site, Twitter.
The restriction has forced some investors to trade cryptocurrency, the markets for which are open 24 hours a day. The revelation that hedge funds have heavily bought short positions running into trillions could propel already bullish digital assets to new highs. The world's biggest cryptocurrency was up 10.2% at $36,901 as of 1005 GMT. "Stonks" is Internet slang for stocks, and in that forum, GameStop supporters affectionately refer to him as "Papa Musk".
Musk also tweeted an image of a "Dogue" magazine cover featuring a whippet in a red sweater - a play on the fashion magazine "Vogue". As reported by U.Today, a message from the Bible was recently embedded in the OP_RETURN script of the cryptocurrency's 666,666th block. He also sent posts calling Cyberpunk a great video game and said, "In retrospect, it was inevitable".
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Coinbase, the largest US digital-asset exchange, said it was investigating delays with deposits and withdrawals.
Much like his previous "Signal" tweet, his change in Twitter bio helped Bitcoin's price leap higher by nearly 20% in 20 minutes, leaving the Internet and users worldwide stunned.
Meanwhile, during Sunday's chat session, Musk mentioned that he doesn't have "a strong opinion on other cryptocurrencies" but still found time to discuss his tweets about meme cryptocurrency, Dogecoin. Marathon Patent Group and Bit Digital were up more than 20 per cent in United States pre-market trading.
