(ZEROHEDGE) – Shortly after the joke cryptocurrency DogeCoin soared 800% after Elon Musk tweeted the image of a dog which his followers interpreted as an endorsement of the farcical crypto, just around 420am ET, the world's richest man singlehandedly pushed bitcoin up by 15%, boosting its market cap by around $80 billion, with a single tweet: "In retrospect, it was inevitable."
What is he referring to? The answer was to be found in his twitter bio which was changed to just one word: "#bitcoin"
As a reminder, three weeks ago we predicted that Elon Musk would be instrumental in pushing bitcoin above $100,000 per token, when discussing the strategy of companies to convert existing cash to bitcoin, we said that "countless other publicly-traded firms will now rush to convert all their cash (and more) into bitcoin, while abandoning existing operations in hopes of becoming bitcoin investment pools and having their shares similarly snapped up by whale investors such as Morgan Stanley. First Trust, JPMorgan, Alliance Bernstein, and all the other institutions which are currently long and adding to their Microstrategy holdings."
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