The world of cryptocurrency had a stimulating evening last night thanks to Elon Musk. Over the past few weeks, the Tesla CEO has a hot/cold relationship with Bitcoin that appeared to be heading towards a break-up after he announced that his electric car company would no longer accept crypto as payment, which caused crypto prices to plummet. Well, now, Musk is at again, and this time, he’s not being subtle about ending things with crypto.
On Thursday evening, Musk tweeted an old internet breakup meme along with #Bitcoin and a broken heart:
Once again, this caused Bitcoin prices to fall by Friday morning. Via CNBC:
Bitcoin fell over 4.5% to a price of $36,852 at around 9:34 a.m. ET Friday, according to data from Coin Metrics. Other digital coins followed suit, with No. 2 cryptocurrency ether dipping more than 5% to $2,656.06 and dogecoin — Musk’s favored crypto — sinking almost 7% to around 36 cents.
However, while some cryptocurrencies saw their prices fall, a sticky situation developed overnight as semen-themed coins saw their prices explode in the wake of Musk’s break-up tweets. Specifically, coins with the word “cum” in their name. For example, “cumrocket” is looking pretty good right now:
CumRocket coin has surged over 85% after Elon Musk's tweet. We are for sure living in a simulation. pic.twitter.com/iaG3lqXDBN
— Mr. Whale (@CryptoWhale) June 4, 2021
Great thread 🤣
— Elon Musk (@elonmusk) June 4, 2021
As for what caused a run on ejaculatory coins (Cuminu also saw its prices spring up), according to Benzinga, traders latched onto a different Musk tweet from Thursday night and quickly started guzzling up the provocatively named cryptos.
Tesla bought CumRocket. 📈
— Sawyer Merritt 📈🚀 (@SawyerMerritt) June 4, 2021
So in a nutshell, Elon Musk tweeted the words “Canada, United States, Mexico,” and it immediately caused a reaction in semen-themed coins because crypto is weird as hell. That’s our expert analysis at this point: wildest sh*t on the internet.