Thursday, May 19, 2022
HomeApeCoinApeCoin Jumps 20% after Elon Musk's Cheeky New BAYC POFP

ApeCoin Jumps 20% after Elon Musk’s Cheeky New BAYC POFP

Who was Elon Musk trolling BAYC, leading to an ApeCoin spike on their NFT Twitter Bingo card for this month? Evidently that’s exactly what happened this morning. Anyone who believed this to be Elon’s NFT conversion might want to reconsider. Musk then went on to tweet about NFTs shortly afterwards.

Elon Musk speaking on stage
The billionaire and potential owner of Twitter caused a frenzy among Apes when he changed his PFP to a BAYC collage. Credit: JD Lasica

ApeCoin surge or not, Elon Musk just loves trolling NFTs

ApeCoin was not the only thing Elon Musk’s tweet sparked this morning. NFT Twitter went wild after Tesla CEO changed his Twitter profile photo to include a collage of Bored Apes. In particular, an image tied to a lot of 101 BAYCs that went on auction at Sotheby’s last year. Many speculated that the billionaire who is currently trying to buy Twitter was the anonymous buyer for those Apes. Some wondered if he had an NFT wallet. ApeCoin’s price rose quickly, whether by chance or because of it.

BAYC collage for Elon Musk Twitter PFP that sent ApeCoin surging
Elon Musk set NFT Twitter and ApeCoin alight, at least until he changed his PFP back. Credit: Sotheby’s

According to CoinGecko data, the ApeCoin price shot up from $14. 50 to $17. 46 in about an hour. The increase in ApeCoin’s value coincided with Elon Musk’s PFP change.

Despite the apparent positive impact on ApeCoin’s value, all those who wished to know more about Elon Musk’s NFT position quickly got their answers. He then followed up on the PFP shift with a troll Tweet. He wrote, “I dunno… seems kindafungible”, mocking the notion that NFTs were unique. Unsurprising, given Elon Musk’s long-stated opinions on NFTs.

In any case, the change was short-lived – the ApeCoin price fell almost as quickly as it rose. At the time of writing, it sits at $15.86.

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All investment/financial opinions expressed by are not recommendations.

This article is educational material.

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Henry Hicks
Henry Hicks
NFT and Crypto Enthusiast. Loves Travelling and Exploring the Metaverse!


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