Good For Bitcoin? BTC is Now Trending after Exploding on Twitter

Bitcoin price is unaffected by the Twitter hack promoting BTC-related scams. The community believes it to be good for the digital asset as millions of people all over the world are hearing about bitcoin now. While congressman Tom Emmer said, “Bitcoin isn't the problem. Centralized control is,” Blake Robbins shared his intention to buy BTC.

A ton of blue check twitter accounts got hacked to promote bitcoin-related scams.

Hijacked accounts claimed that they were going to give people bitcoin or double their stash after they sent some to an address first.

This went on for a long time, and now Twitter is investigating the matter which it says is a “coordinated social engineering attack” using the internal tools and systems. As we reported, the hacker only managed to scam 12.8 BTC, worth $120,000, out of people.

Interestingly, Twitter co-founder and CEO Jack Dorsey is a bitcoin supporter who believes BTC could one day become an internet currency, and his bio simply reads Bitcoin.

According to some members of the crypto community, this is all good for bitcoin. It rings true given that not only ‘#TwitterHacked' is trending on the social media platform but also #Bitcoin.

Being such a big incident having attacked the accounts of Elon Musk, Jeff Bezos, Warren Buffett, Joe Biden, Barack Obama, Benjamin Netanyahu, Kanye West, Kim Kardashian, Michael Bloomberg, Apple, Wendy's, Uber, and others, the world's leading cryptocurrency is getting a lot of attention.

“Millions of people around the world are about to hear about Bitcoin again in the following few hours,” said economist and trader Alex Kruger. “Today's hacks will be in every newspaper and media channel.”

While some like trader DonAlt voiced concern that “It's kind of crazy that crypto will be forever associated with scams in a lot of people's mind after this,” adding “hope the saying “There's no such thing as bad publicity” rings true for crypto.”

Some good did come out of this as Congressman Tom Emmer said,

“Bitcoin isn't the problem. Centralized control is.”

Also, Blake Robbins of Ludlow Ventures, who previously worked at Google, Nest, and SpaceX, shared his intention to stack some sats.

“I sort of want to buy Bitcoin now?” he tweeted.

For now, the price of bitcoin is unaffected, currently trading just over $9,100, down 1.80%. It did take a small, less than 2% drop from $9,200 after the incident happened but remained in the range it has long been stuck in.

According to trader DonAlt, the digital asset could squeeze upwards in the short term but is bearish in the mid-term.

Bitcoin (BTC) Live Price

1 BTC/USD =$11,718.9768 change ~ 1.54%

Coin Market Cap

$216.27 Billion

24 Hour Volume

$4.99 Billion

24 Hour VWAP

$11.61 K

24 Hour Change

$180.2216

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AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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