Elon Musk changes account name X, digital currency increases 60,000%

The digital currency created 4 days ago, coinciding with the account name billionaire Elon Musk just changed, has increased in price hundreds of times.

Elon Musk's move causes a cryptocurrency to increase in price 100 times. Photo: BeinCrypto .

On the afternoon of February 11 ( Hanoi time), the owner of social network X suddenly changed his account to Harry Bōlz. Elon Musk's action made many people curious and a series of hypotheses were put forward to analyze it. At the same time, the billionaire is also a leading influencer in the cryptocurrency market. His small moves can easily impact the market.

The cryptocurrency HarryBolz (Bolz), created 4 days ago, has skyrocketed in price since Elon Musk changed his name. From $0.00004 per coin, Bolz has increased to $0.025 , an increase of 62,500%. The project's capitalization has reached $20 million . The cryptocurrency's trading volume has reached $95 million in the last 24 hours. From less than 600 holders, Bolz now has more than 22,600 investors. The number of cryptocurrency purchases has increased sharply since Elon Musk changed his name.

The digital currency at one point surged to $0.025 , more than 600 times the previous day. Photo: TradingView.

In fact, HarryBolz is listed on Pumpfun, a platform that helps newbies create cryptocurrencies. Most of the tokens here are “junk”, famous for many pump and dump incidents in the past. These types of cryptocurrencies are easily manipulated, when the original creator can hold a large amount of tokens.

On the other hand, Bolz trading is done by swapping on a decentralized exchange. This form is different from direct buying and selling orders, requiring a lot of experience and a complex operating process, not easy for beginners.

In addition to the aforementioned Bolz, dozens of other cryptocurrencies with similar names were also created on February 11, following the event of Elon Musk changing his X account name. They were then advertised on social networks, following the FOMO wave to invite buyers.

This is not the first time Elon Musk has changed the name of his most-followed account on X. On December 31, 2024, he changed his profile picture to a famous cartoon character dressed in ancient Roman clothing, holding a video game controller. At the same time, he changed his name to Kekius Maximus.

The cryptocurrency Kekius immediately increased in value 40 times. But when the account was returned to Elon Musk, it lost 75% of its value. Currently, the cryptocurrency is trading at the same price as it was before December 31, 2024.

On February 11, in addition to changing his name, the billionaire also changed his description to “A Shortfall of Gravitas,” a play on words he loves. The phrase is an idiom that implies a lack of seriousness. At the same time, it is also the name of an unmanned ship that serves as a landing pad for SpaceX rockets at sea.