by Ian Haworth
In an already turbulent and volatile week for the financial markets, with the shorted stock prices of companies like GameStop surging, eyes returned to the world of Bitcoin after Elon Musk added “#bitcoin” to his Twitter bio.
After the CEO of SpaceX and Tesla, Inc., added the hashtag early on Friday morning, Bitcoin prices skyrocketed by as much as 20%, climbing suddenly in the early hours of the morning. According to cryptocurrency site CoinDesk, Bitcoin prices rose $5,000 in an hour to $37,299, increasing further to $37,653 by 8.00 a.m. ET.