Elon Musk’s $69K Bitcoin ($BTC) Price Meme Fetches $28,000 in Auction

By Prashant Jha
Published October 23, 2021 Updated October 23, 2021
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Elon Musk’s $69K Bitcoin ($BTC) Price Meme Fetches $28,000 in Auction

By Prashant Jha
Published October 23, 2021 Updated October 23, 2021

Elon Musk shared a “69-420” meme for Bitcoin and Ethereum price on Wednesday when the top cryptocurrency hit a new ATH just under $67K.  The tweet created a lot of buzz in the crypto twitter given Musk hasn’t commented much on BTC since the B-Word conference, although he has been tweeting about floki and Doge in between.

The meme was merely reposted by the tech billionaire as he has done on numerous occasions in the past, but the original creator of the meme seems to have made thousands of dollars because of Musk’s posting. Eva Beylin, the original creator of the meme and she didn’t have any complaints against Musk for not giving her the due credit. She said,

“The ultimate prize of memeology is for the ultimate meme lord to use your meme,”

Beylin minted the prized meme as an NFT and put it up for auction on NFT marketplace Zora and within two days the meme NFT got an offer for fiver wrapped ETH which is nearly worth $20,000 in current price. However, Beylin herself wasn’t the original creator of the meme template either and thus she shared 20% of the NFT sale proceeds with the original meme template creator.

“As a hobby artist, I’d never be able to reinvest in art or have my art paid for [without NFTs]. So, my thing has always been reinvesting back into NFTs,” Beylin said.

Elon Musk’s Tesla Rakes in Billion Dollar Profit From Bitcoin

Elon Musk’s Tesla was at the center of the Bitcoin Energy FUD in May this year that saw Tesla suspend BTC payment option citing environmental concerns. At the time, the back and forth between Musk and Bitcoin proponents led to a heated debate resulting in Musk threatening to sell Tesla’s $1.5 billion BTC purchase.

However, Tesla held onto its BTC during the bear market and as a result, today they have made over $1 billion in profits from simply holding BTC on their balance sheet.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Prashant Jha
1185 Articles
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

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