#BitcoinBounceBack Musk’s tweets and comments about Bitcoin have historically moved markets, which indirectly affects his reputation and influence. Studies show a single X post from him can swing Bitcoin’s price by double-digit percentages—up 16.9% or down 11.8% in some cases. This power peaked in 2021 when Tesla briefly accepted Bitcoin for car purchases, only to reverse course over environmental concerns, tanking the price by over 10%. While this doesn’t directly hit his personal wallet (his wealth is mostly tied to Tesla and SpaceX stock), it amplifies his image as a market mover. Posts on X suggest some believe his silence on Bitcoin lately is strategic—possibly tied to his role in Trump’s administration and a potential U.S. Bitcoin reserve—hinting he’s aware of the legal and financial risks of careless crypto talk.