Why did Musk, SEC members and many other big Vs change their profile pictures to "laser eyes"?

Since Tesla CEO Elon Musk endorsed Bitcoin under his real name, he has taken on another identity among his multiple roles - Bitcoin evangelist. On February 20, Elon Musk suddenly changed his profile picture to a girl with "laser eyes" with a Bitcoin pattern in the background.

This avatar was originally an image that Musk had used on Twitter before. The focus is not on the Bitcoin logo, but on the pair of red "laser eyes". If you search the topic "#LaserRayUntil100K" on Twitter, you will find that under Musk's leadership, Twitter has become a sea of ​​laser eyes.

MicroStrategy CEO Michael Saylor, CoinShares CEO Meltem Demirors, and even US Senator Cythia Lummis have become participants in this event.

Tesla CEO Elon Musk Twitter profile picture

U.S. Senator Cythia Lummis's Twitter profile picture

Laser Eyes and Bitcoin

So what do laser eyes mean?

“The laser eyes are meant to communicate activation and increasing power levels,” said Neeraj Agrawal, director of communications at cryptocurrency think tank Coin Center. “Think about when a character’s eyes light up in a movie.”

According to the website Know Your Meme, characters with glowing eyes have been widely used as memes since the release of the video game Mass Effect 2 in 2010. In the game, when an enemy is controlled by another entity, their eyes glow yellow. Then people used Photoshop technology to add the title "Controlled" to this type of picture, and a meme was born.

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As the meme evolves, laser eyes have become inseparable from Bitcoin.

On Twitter, many Bitcoin evangelists have been promoting Bitcoin relentlessly. As the price of Bitcoin continues to rise, on February 15, crypto podcast host Greg Zaj launched a "#LaserRayUntil100K" campaign on Twitter, aiming to wait for Bitcoin to break through the $100,000 mark.

All tweets under this topic use "laser eyes" as the illustration, which seems to indicate that they have been "piloted" and "controlled", and they deeply believe that Bitcoin will hit the $100,000 mark.

Twitter users’ posts under the #LaserRayUntil100K hashtag

As Bitcoin broke through $56,000, this event also attracted attention from all sides. BlockBeats counted some celebrities who participated in this event, including KOLs in the encryption field, elites in the financial industry, and politicians.

Tesla CEO: Elon Musk

MicroStrategy CEO: Michael Saylor

CoinShares CEO: Meltem Demirors

CSO of Blockstream: Samson Mow

SEC Representative: Cythia Lummis

Bankless founder: David Hoffman

The Winklevoss brothers, founders of Gemin

Bitcoin Core Developer: Jimmy Song

Preston Pysh

Nick Szabo, famous computer scientist, cryptographer, inventor of "Bit Gold"

Well-known derivatives trader and podcast host: Tone Vays

“#LaserRayUntil100K is a way for bitcoiners to come together and celebrate 100,000 in our eyes,” said Magdalena Gronowska, an inspector who helped set up the 3iQ Bitcoin Fund when Canada’s Quadriga crypto exchange collapsed. As for whether she will keep her Twitter avatar’s “laser eyes” until the price of bitcoin hits $100,000, she said, “It will be a few months.”

So how long will it take for Bitcoin to reach $100,000?

Since January this year, Bitcoin has reached new highs, rising from $29,000 at the beginning of the year to $56,000, an increase of 93%. Institutional enthusiasm for Bitcoin investment does not seem to have diminished.

Since February this year, in addition to Tesla founder Musk, more celebrities have expressed their views on Bitcoin. BlackRock CEO Larry Fink, Bridgewater Fund founder Ray Dalio, and Meituan founder Wang Xing, who have a significant impact on the business world, have all expressed new views in recent times.

On February 18, Microsoft co-founder Bill Gates once again talked about his views on cryptocurrencies such as Bitcoin on CNBC's Squawk Box: "I'm already neutral on Bitcoin." In 2018, Bill Gates also called Bitcoin a "Greater Fool Theory" type of investment.

On the same day, perhaps influenced by ARK Investment’s research report on Bitcoin, Dan Bin, chairman of Shenzhen Oriental Harbor Investment Management Co., Ltd., said on Weibo, “I have purchased 1% of the Bitcoin ETF fund. Although it’s a bit late, I will practice it once I figure it out! I hope to maintain my curiosity about new things!”

On February 19, MicroStrategy again revealed that it had raised $1.05 billion for Bitcoin investment by selling convertible bonds.

Although the industry generally believed that the driving force behind this round of bull market came from institutional investors, as the attention of all sectors of society to Bitcoin continues to increase, the enthusiasm of retail investors to enter the market has also been continuously pushed up. Bitcoin, which was once only known to a small circle of geeks, is entering the vision of a more mainstream and broad group of people.

On-chain data shows that Bitcoin miners have sold some of their shares, which means that the impact of miners on the future market will gradually decrease. If there is no black swan event, the bull market is expected to continue, and the price increase of mainstream currencies may be achieved in a short period of time. However, as mentioned above, the massive entry of institutions has also brought uncertainty and risks to the crypto market.

You should know that the crypto market can surge or plummet within a day due to its high degree of freedom. After all, the "3.12" incident is a lesson for us. Once institutions sell their stocks, it may bring more serious situations to the crypto market. Investors must also operate with caution and not blindly chase high prices.