The Tesla chief executive said ‘in retrospect, it was inevitable’

Bitcoin surged early on Friday after Elon Musk tagged the cryptocurrency in his Twitter biography.

The price of bitcoin BTCUSD, +11.78% was last up 12.3% at $37,351, according to CoinDesk prices, after the Tesla TSLA, +0.77% chief executive appeared to express support for the cryptocurrency. After changing his Twitter TWTR, +5.69% bio to #bitcoin, he then tweeted “In retrospect, it was inevitable.”

Twitter CEO Jack Dorsey — a vocal supporter of bitcoin — had the same bio as Musk early on Friday but it’s unclear when the platform’s founder made the change.

Earlier this week, Musk waded into the battle between short-sellers and retail traders over vide.mes retailer GameStop GME, +1.97%, tweeting a link to Reddit’s WallStreetBets forum along with the word “Gamestonk!!”

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