'Valuable to Be Held'—Elon Musk Casually Augments Cost of This Bitcoin alternative's Worth
Donald Trump's presidential advisor, billionaire Elon Musk of Tesla and X, has sparked political interest recently, proposing a "capital markets rejuvenation" fueled by bitcoin to potentially unleash trillions in wealth to Trump.
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The bitcoin price has dipped from its post-election high of nearly $110,000 per bitcoin, with experts predicting a "significant" price shift approaching.
Now, as Musk releases a grim U.S. bankruptcy prediction, the Tesla billionaire has switched his X alias to Kekius Maximus, causing a small competitor cryptocurrency to surge by approximately 2,000%.
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"This will be invaluable," Musk, referring to the media attention, shared on X following his alias switch to Kekius Maximus.
Kekius Maximus appears to be a tribute to his Path of Exile 2 character, a nod to the Gladiator movie, and a play on the internet-gaming term kek, a South Korean and World of Warcraft originated laughter equivalent to lol (laugh out loud).
Musk's post referenced the Adrian Dittmann account, which some believe is controlled by Musk, although he has denied this claim.
"Imagine you're a journalist reporting on Elon on X: 'Elon Musk, aka "Kekius Maximus" on X...,'" Dittmann shared.
Musk's alias change on X triggered a 2,000% surge in the cryptocurrency kekius maximus, born via a later December post on X by Musk, highlighting his substantial influence over the bitcoin and crypto market.
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Musk's support for Trump in the U.S. presidential election drive boosted the bitcoin price, as traders bet on a pro-bitcoin and crypto Trump administration.
Musk also advocated for decreased U.S. spending, which resulted in the establishment of the Doge Department Of Government Efficiency, which Musk assumes could save the U.S. approximately $2 trillion in spending.
The Doge department is a homage to the shiba inu doge meme, connected to the dogecoin cryptocurrency, which Musk declared his "favorite" cryptocurrency and accepts for payment at Tesla's car company—despite Tesla still holding around 10,000 bitcoin valued at around $1 billion on its balance sheet.
After Elon Musk, known as Kekius Maximus on X, shared his influence over the crypto market by switching his alias, the cryptocurrency kekius maximus saw a dramatic 2,000% surge. Amidst the political interest in bitcoin, Elon Musk's support during the U.S. presidential election had a significant impact on the bitcoin price, encouraging traders to bet on a pro-bitcoin and crypto Trump administration.
