Elon Musk changed his X profile picture to laser eyes to show his support for Trump after Biden announced his withdrawal from the race

Elon Musk, CEO of Tesla, has changed his profile picture on X (formerly Twitter) to feature the laser eyes meme, signalling bullish sentiment in the crypto community. This follows President Joe Biden's withdrawal from the 2024 US election campaign.

Laser Eyes Meme

The laser eyes meme, popular in the crypto world, symbolises enthusiasm for Bitcoin and other digital assets.

Musk, a well-known crypto supporter, has investments in Bitcoin, Ethereum, and Dogecoin.

MAGA Coin Surge

A few days ago MAGA’s price surged by 20% after a Musk tweet.

It is currently trading at $7.2 after a 1% increase in the past 24 hours.

Tesla and Bitcoin

Tesla announced it would accept Bitcoin as payment in February 2021 but paused the plan in May 2021 over environmental concerns.

Musk has stated that Bitcoin payments will resume once mining becomes more sustainable.

High-Profile Support

The laser eyes meme has been adopted by figures like Michael Saylor of MicroStrategy and US Senator Cynthia Lummis, as well as institutions like Franklin Templeton.

Franklin Templeton recently included laser eyes in its logo to support the crypto market, coinciding with the approval of spot Bitcoin ETFs in the US, though it was later removed.

Franklin Templeton is set to debut its spot Ethereum ETFs on the CBOE next week, joining other industry giants in expanding their crypto offerings.