The crypto sector has presented an aggressive reaction to Elon Musk’s recent social media posts this weekend. As per the latest reports, the prominent crypto assets like Bitcoin ($BTC), dogecoin ($DOGE), Toncoin ($TON), and $BONK have witnessed notable growth after the billionaire entrepreneur Elon Musk’s declaration of “America Party.” In addition to this, Musk also categorized fiat currencies as hopeless.
$BTC and $TON See Dramatic Surge after Elon Musk’s Declaration of ‘America Party
The reports mention that Elon Musk gave a seismic but brief response to the comment of an X user. In this respect, the user asked about the role of America Party in backing Bitcoin. While responding to this, Musk’s reply was optimistic. This bolstered confidence in the top cryptocurrency, Bitcoin ($BTC), and the rest of the crypto assets like Tonoin ($TON).
Within a few hours of Elon Musk’s posts, Bitcoin ($BTC) jumped above the $61,000 mark. Additionally, the memecoins such as $DOGE and $BONK experienced double-digit profits. Particularly, $BONK spiked 14.83% over the past twenty-four hours, while recording a 53% increase over the past seven days.
In the meantime, Tonoin ($TON), the native crypto coin of The Open Network, has also displayed steady gains. The respective platform recently collaborated with the UAE government to release Golden Visa initiative.
DOGE Surges by 11% As Musk Announced ‘America Party’
Apart from that, Dogecoin ($DOGE) also took part in the rally, making an eleven percent jump amid the buzz. Keeping this in view, the market onlookers have also commented on this development. They consider Musk’s endorsement of crypto as significantly intertwined with broader political movements.
According to James Withers, a noteworthy crypto analyst, this political fusion with crypto is very strong. He also asserted that Musk is endeavoring to mint an exclusive “golden coin” to promote financial sovereignty and political freedom. Moreover, this new twist by Elon Musk has reignited discussions around the role that tech billionaires play in developing the financial future.
