Elon Musk goes laser eyes after Biden quits re-election bid

Source: Crypto Briefing

Elon Musk has recently updated his profile picture on X (formerly Twitter) to feature laser eyes, a popular meme associated with bullish sentiment in the crypto community. The update came after President Joe Biden announced his withdrawal from the 2024 US election campaign.

Musk is a supporter of Bitcoin and crypto. He has stated that his principal personal investments include Bitcoin, Ethereum, and Dogecoin, and he wants to see these digital assets succeed.

However, Musk halted Tesla’s support for Bitcoin as a payment method due to concerns about Bitcoin’s environmental impact. The CEO of Tesla has indicated that Bitcoin payments will resume once mining operations convert to more sustainable sources of energy.

Before the recent profile change, Musk expressed his full endorsement of Trump, the Republican presidential candidate who has presented himself as a strong advocate for Bitcoin and the crypto industry.

The laser eyes meme originated as a way to express enthusiasm for Bitcoin, particularly around the time when the crypto was aiming for significant price milestones. It has been embraced by many high-profile figures and institutions, including MicroStrategy’s Michael Saylor, US Senator Cynthia Lummis, and asset management firm Franklin Templeton.

Following the approval of spot Bitcoin ETFs in the US, Franklin Templeton updated its logo to include laser eyes, signaling its support for the crypto market. However, just weeks after this update, the firm removed laser eyes from its profile picture.

Franklin Templeton has recently joined industry giants in expanding their crypto offerings with spot Ethereum ETFs. Franklin’s Ethereum fund is set to debut on CBOE next week.

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Author: Vivian Nguyen