On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Some of Musk's 43 million followers might have noticed, after Bitcoin rallied nearly 14% in the 30 minutes following his bio update.
When the richest man in the world Elon Musk updated his Twitter bio on Jan. 29 — simply adding the word ‘Bitcoin’ — it was followed by a near-immediate 13% increase to the Bitcoin (BTC) spot price.
Musk’s bio appeared to be updated on Friday morning, and was followed by a cryptic tweet that referred to the inevitability of... something.
In retrospect, it was inevitable
— Elon Musk (@elonmusk) January 29, 2021
Tweeted at 8:22 a.m. UTC, Musk’s 43 million followers apparently took notice. Some assumed the tweet was a reference to the Dogecoin (DOGE) price surge which was ignited by r/wallstreetbet traders as a follow-up to the recent Gamestop (GME) stock short-squeeze. Others assumed the tweet was related to Bitcoin.
Either way, at 8:24 a.m., Bitcoin suddenly took off. Over the course of the next 30 minutes, the value of Bitcoin increased by 13.9%, as the coin price climbed from a starting point of $32,194. By 9:04 a.m., the coin was worth $36,670, according to data from CoinMarketCap. Shortly afterward, BTC continued to climb, eventually hitting $37,420 — representing more than 20% growth in the previous 24 hours.
In December 2020, the value of Dogecoin increased by 25% after Musk posted a Doge meme. Musk had previously posted Dogecoin memes followed by the words “It’s inevitable,” perhaps providing a clue to the nature of Friday’s tweet.
Musk isn't even the first billionaire to add the word Bitcoin to his Twitter bio. The social media site's own CEO, Jack Dorsey, did the same thing in mid-2020. Dorsey is the CEO of Square, the fintech company responsible for the Cash App, which also caters to Bitcoin users. Almost 80% of Cash App's revenue came from Bitcoin alone by the third quarter of last year.
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