Gensler's 'SEC Twitter Account Was Compromised' Tweet Is Now An Ordinal 'Immortalized On Bitcoin Forever'
Portfolio Pulse from Mehab Qureshi
The SEC's Twitter account was compromised, leading to a false tweet about the approval of Bitcoin ETFs, which caused a temporary drop in Bitcoin's price. SEC Commissioner Gary Gensler confirmed the breach. A digital artist immortalized Gensler's clarifying tweet on the Bitcoin blockchain. Bitcoin's functionality has expanded with the Taproot upgrade, allowing for unique data to be encoded in transactions, similar to NFTs on Ethereum.
January 10, 2024 | 5:43 am
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The compromised SEC tweet and subsequent clarification by Gary Gensler led to a temporary decline in Bitcoin's price, but the cryptocurrency has since shown resilience.
The false information about Bitcoin ETF approvals directly impacted Bitcoin's price, causing a sharp decline. However, the market's quick recovery indicates a resilient sentiment among investors.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100