Elon Musk, the billionaire CEO of Tesla and owner of social media platform X, has become a key figure in US politics after advising President-elect Donald Trump on his views on bitcoin. The cryptocurrency’s price surged in November as traders bet on Trump leading an administration supportive of crypto.
However, the recent drop in bitcoin’s value from $110,000 to its current price has led to concerns over economic instability. Musk recently warned of a potential US bankruptcy, sparking controversy.
Musk has also changed his name on X to “Kekius Maximus,” a reference to a character in the video game Path of Exile and a pun on internet slang. This change sent the value of a cryptocurrency called Kekius Maximus surging by 2,000%.
As one of the most influential figures in the crypto market, Musk’s actions have significant implications for investors and traders. His support for Trump has also led to calls for more pro-crypto policies.
Musk’s name change has sparked debate over his intentions, with some speculating that his account may be controlled by him. However, he has denied these claims.
The controversy surrounding Musk’s bitcoin views highlights the growing influence of crypto on US politics and the economy. As the situation unfolds, investors and traders will be watching closely for further updates from Musk.
Source: https://www.forbes.com/sites/digital-assets/2025/01/01/this-will-be-priceless-elon-musk-just-quietly-blew-up-the-price-of-this-bitcoin-rival