<p>Bitcoin jumped as much as 14% on Friday to a two-week high after Tesla Inc chief Elon Musk tagged the cryptocurrency in his Twitter biography.</p>.<p>Musk wrote simply "#bitcoin" in his biography on the social media site. The cryptocurrency was trading at $37,800 as of 0936 GMT.</p>.<p>The billionaire entrepreneur, followed by 43.7 million on Twitter, has a record of making market-moving comments on the site.</p>.<p>GameStop Corp, which has been at the centre of the retail trading frenzy, surged 50% on Tuesday after Musk tweeted "Gamestonk!!", along with a link to the Reddit Wallstreetbets stock trading discussion group.</p>.<p>There, supporters affectionately refer to him as "Papa Musk." "Stonks" is a tongue-in-cheek term for stocks widely used on social media.</p>.<p>In December, Musk asked about the possibility of converting "large transactions" of Tesla's balance sheet into bitcoin, in a Twitter exchange with a well-known advocate for the digital currency.</p>
<p>Bitcoin jumped as much as 14% on Friday to a two-week high after Tesla Inc chief Elon Musk tagged the cryptocurrency in his Twitter biography.</p>.<p>Musk wrote simply "#bitcoin" in his biography on the social media site. The cryptocurrency was trading at $37,800 as of 0936 GMT.</p>.<p>The billionaire entrepreneur, followed by 43.7 million on Twitter, has a record of making market-moving comments on the site.</p>.<p>GameStop Corp, which has been at the centre of the retail trading frenzy, surged 50% on Tuesday after Musk tweeted "Gamestonk!!", along with a link to the Reddit Wallstreetbets stock trading discussion group.</p>.<p>There, supporters affectionately refer to him as "Papa Musk." "Stonks" is a tongue-in-cheek term for stocks widely used on social media.</p>.<p>In December, Musk asked about the possibility of converting "large transactions" of Tesla's balance sheet into bitcoin, in a Twitter exchange with a well-known advocate for the digital currency.</p>