How a Fake Tweet Made Bitcoin Jump to $110K

AI Generated

On June 10, 2025, a bizarre event took place. The official X account of the President of Paraguay made a post, well a tweet where he stated that Bitcoin was considered legal currency in the country and that Paraguay, along with a $5 million Bitcoin fund, had provided a wallet address for people to send their Bitcoin to. The tweet was even in English, not Spanish, so it was already suspicious to some of the people that saw it.

Shortly afterwards, the government reported the account was hacked and the post was a fake. I wonder why anyone would do that, (sarcasm intended)

By the time they announced the post was fake, the cat was already out of the bag, Bitcoin jumped, immediately more than 4% to over $110,450. It was not just BTC, to ther coins surged as well. Coins like Ethereum, Solana and XRP.

Clearly people made a decision to buy a lot of Bitcoin because they believed the post and they knew that would pump Bitcoin so they invested. Even bots were buying Bitcoin, after seeing the tweet, without even checking to see if it was true news. Paraguay is known for low electricity costs, so it was easy to understand some of the fake news wasn't quite fake news.

This was a clear example of how social media can fool humanity and society even in 2025. Just one tweet, thread or short can move the entire markets. If you're in crypto, or have invested a lot of money, be sure to follow up and check all news and information from a trusted source, that's a very important move to make. You don't just click wallet links in a tweet. In crypto, it is better to be slow and safe than fast and wrong, because if you end up being wrong, it could be your entire financial life in the line.

Posted Using INLEO