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In a move that has ignited fervent discussion across the Bitcoin community, Tesla CEO Elon Musk updated his profile picture on X (formerly Twitter) to feature the notable “laser eyes,” a meme symbolizing bullish sentiment towards BTC. This change occurred just days before the Bitcoin 2024 conference scheduled in Nashville from July 25-27, where prominent figures, including US presidential candidate Donald Trump, are slated to speak.
The anticipation around the conference intensified after rumors surfaced last week, suggesting that Trump might endorse BTC as a potential reserve asset should he be elected in the upcoming November presidential elections. Dennis Porter, founder of the regulatory advocacy group Satoshi Act Fund, stirred the pot further by posting on X about an unverified leak that Trump plans to “announce a USA bitcoin strategic reserve in Nashville,” citing sources who chose to remain anonymous.
Elon Musk Showing Up At Bitcoin 2024?
David Bailey, CEO of Bitcoin Magazine, the organizer of the upcoming conference, teased the event’s impact on social media, stating, “I want to apologize in advance for breaking the internet.” Responding to Musk’s new profile image, Bailey shared a screenshot and commented with a series of suggestive emojis, hinting at major developments: “ARE YOU READY?”
Industry reactions were swift and varied. Dennis Porter commented on Musk’s move via X, “HUGE: Signals are showing Elon could be returning to Bitcoin.” Michael Saylor, CEO of MicroStrategy and a vocal BTC proponent, tweeted, “Laser Eyes are back in style. #Bitcoin.”
Renowned cryptocurrency analyst Scott Melker, also known as “The Wolf Of All Streets,” speculated about the implications of Musk’s new profile picture, suggesting that it could herald a significant announcement: “Musk changes profile pic to laser eyes. CEO of Bitcoin Magazine (Bitcoin conference) says ARE YOU READY. If this means what I think it does then this week is about to get even wilder.”
— David Bailey🇵🇷 $0.65mm/btc is the floor (@DavidFBailey) July 21, 2024
Fox Business journalist Eleanor Terrett speculated further about Musk’s potential appearance at the conference, considering his ties with Trump and his known interest in Bitcoin, “If this is a teaser for another big guest announcement, I feel like the only person bigger than Trump that could break the internet at this point is Elon Musk. It would make sense too. He’s friends with Trump, loves Bitcoin, and this event is turning out to be the biggest fomo event in crypto. I’m completely speculating but it would be super cool to see Elon come to Nashville.”
However, not all observers are convinced that Musk’s new profile image signals a renewed endorsement of BTC. A prominent voice from the X community, Autism Capital, suggested that the new profile pictures of both Marc Andreessen and Elon Musk symbolize a broader movement, unrelated specifically to BTC: “Both Marc Andreessen and Elon have the wartime PFPs. It’s a new dawn.”
Steven Lubka, Head of Private Clients & Family Offices at Swan, also weighed in, suggesting a different interpretation: “Elon’s Lazer eyes are downstream of Marc Andreessen and are e/acc affiliated. This isn’t a Bitcoin thing.”
At press time, BTC traded at $67,620.
BTC rallies past the red resistance zone , 1-day chart | Source: BTCUSD on TradingView.com
Featured image from X, chart from TradingView.com
