Bitcoin Plunges Shortly Following Bilzerian's Announcement on Instagram

Published on 2017-05-27 23:12:00

Dan Blizerian getting close to the endangered wildlife. Social media photo.On Wednesday afternoon, Dan Bilzerian proclaimed to his millions of Instagram followers that he had just bought a "sh*tload" of Bitcoins.

Bitcoin, which is the world's most popular cryptocurrency, has gone absolutely berserk over the past month due to a number of different factors. One month ago you could buy a single Bitcoin for approximately $1,250 USD - earlier this week, the price soared to roughly $2,800 USD.

On Wednesday afternoon (around when Bilzerian said he bought his coins), a single Bitcoin would have cost you about $2,500 USD. Shortly after Bilzerian made his big Bitcoin purchase, the cryptocurrency added another $300 in value.


Things quickly reversed, however, and Bitcoin quickly lost roughly $800/coin in value.

As of this moment, a single Bitcoin will cost you around $2,150 USD.

A number of publications, including, picked up on Bilzerian's big buy, with many wondering if his purchase signalled the top of the Bitcoin bubble.


Bilzerian, who claims to have made his fortune playing in private Hollywood cash games, has now plunged headfirst into the Bitcoin speculation market, which he says is like "betting a bunch of money on the Super Bowl".

Source: - Did This Not-Safe-For-Work Internet Sensation Just Signal a Top in Bitcoin?


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