Cryptocurrency Soars 10,000% After Elon Musk Buys Twitter

After days of rumors, billionaire Elon Musk has finally become the new owner of Twitter. The social network’s board of shareholders accepted the Tesla CEO’s $44 billion offer, becoming the company’s new owner.

With this, Twitter will go private and shareholders will receive a value per share 38% greater than the company’s market value. But the one who really profited was the one who bought the most recent cryptocurrency-meme released on the topic.

Entitled Elon BuysTwitter (EBT), the cryptocurrency was launched shortly after the purchase was announced. In just a few hours, its price skyrocketed by more than 10,000%.

Cryptocurrency-meme skyrockets 1000% after purchase

Of course, cryptocurrency-meme does not have any serious purpose, but rather the intention to deceive users. In fact, the EBT developers even made a mocking description of NFTs and play-to-earn games.

“Our ecosystem will also launch a series of melon-based lazy games and provide play-to-win opportunities. Elon Buys Twitter’s long-term goal is to establish itself as an industry leader in the emerging DeFi sector.”

The cryptocurrency faced strong volatility, up 1,000% shortly after launch. Its appreciation reached 10,500% on Monday (25), leading EBT to its highest value.

However, the price followed the path of almost all meme cryptocurrencies: it lost strength in a short time. Thus, the high had already fallen by 98,95 %.

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