• Elon Musk has excited the Bitcoin community by updating his profile photo with “laser eyes”, a bullish symbol for Bitcoin, ahead of the Bitcoin 2024 conference.
• Industry experts and leading figures, including Michael Saylor and Scott Melker, commented on Musk’s new profile photo, fuelling expectations of major announcements at the upcoming Bitcoin conference.

Elon Musk has teased the Bitcoin community by updating his profile picture on X with “laser eyes”, a symbol of bullish sentiment towards Bitcoin. Elon Musk updated his profile photo on Sunday, just days before the Bitcoin 2024 conference, to be held from July 25 to 27. Ds high-profile personalities, including former US President Donald Trump, are invited and will be speaking.

As CNF reports, anticipation around the conference has generated excitement that Donald Trump may announce to make Bitcoin a reserve asset, should he win the next presidential race. Dennis Porter, founder of regulatory advocacy group Satoshi Act Fund, fueled the speculation by posting an unverified leak on X. According to anonymous sources, Porter claims that Trump intends to “announce a strategic U.S. bitcoin reserve in Nashville”.

Meanwhile, Bitcoin Magazine CEO David Bailey, who is also organizing the upcoming conference, spoke about the impact of the event, adding, “I want to apologize in advance for breaking the internet.” In response to Elon Musk’s new profile photo, David Bailey shared a screenshot with the caption “ARE YOU READY?”, while hinting at future developments.

Cryptocurrency industry experts fuel speculation

Industry reactions were swift and varied. Dennis Porter commented on Musk’s decision via X, saying, “HUGE: Signals show Elon may return to Bitcoin” Michael Saylor, CEO of MicroStrategy and a staunch BTC supporter, tweeted, “Laser eyes are back in vogue. #Bitcoin”

Noted crypto-currency analyst Scott Melker, known as “The Wolf Of All Streets”, speculated on the implications of Musk’s new profile photo, suggesting that it could herald a major announcement: “Musk changes profile pic to laser eyes”.

Fox Business reporter Eleanor Terrett speculated further on Musk’s possible attendance at the conference, given his ties to Trump and known interest in bitcoin. “If this is a teaser for another big announcement, I feel like the only person bigger than Trump who could break the internet at this point is Elon Musk. That would also make sense. He’s friends with Trump, loves bitcoin, and this event is becoming crypto’s biggest FOMO event. I’m completely speculating, but it would be super cool to see Elon come to Nashville.”

BTC price action

The bitcoin price is likely to experience some volatility as the bitcoin conference draws closer. On Sunday, bitcoin showed some volatility after Joe Biden announced his withdrawal from the presidential race, according to CNF Report. As we go to press, the bitcoin price is down 0. 5% to below $67,000.

Political events throughout the year are likely to increase the volatility of the bitcoin price and crypto markets in general.