The price of bitcoin is once again rising sharply. Meanwhile, Twitter (Twitter) former CEO Jack Dorsey is said to be taking the place of crypto dollars.
Dorsey was responding to a tweet by popular rapper Cardi B. Bitcoin will be used in place of dollars in the transaction.
What in the tweet
Cardi B tweeted, “Do you think crypto is going to replace the dollar?” To this the former Twitter boss said, “Yes, bitcoin will change.” The conversation on Twitter comes at a time when the dollar is declining due to fears of a rapid increase in cases of the Omicron variant worldwide.
Seeing the decline in bitcoin for some time, this tweet went viral and millions of people gave their reaction on it. In the past few weeks, the price of bitcoin was falling. The valuation of bitcoin had dropped by more than 30% in one month.
The price of Ethereum has also been affected by the price of Bitcoin and is down by almost 20%. Bitcoin being the largest cryptocurrency, its price fluctuations affect other cryptos as well.
Bitcoin Price Soared After Tweet
Coincidentally, the price of bitcoin rose immediately following the tweet conversation between Dorsey and Cardi B. This ended the decline seen in the price of bitcoin over the past few days.
According to the report, the price of bitcoin increased by 5 percent on Tuesday and it has once again reached above $48,000. After this, the price of Ethereum and other cryptocurrencies also got support.
Even before tweets on bitcoin
This is not the first time that Dorsey has tweeted about bitcoin. In August this year, he tweeted saying that bitcoin would unite the world with a deeply divided country. Dorsey stepped down as Twitter CEO earlier this month. He is currently the CEO of a payments company Square.
