Could 'Bitcoin $69,420' Be A Signature Meme Event For The Cryptocurrency?

The most valuable cryptocurrency is seeing a rise in valuation that took the coin to record highs on Wednesday. The price of the coin is now approaching potential max meme potential.

What Happened: The price of Bitcoin BTC/USD hit an all-time high of $66,930.39 on Wednesday. This marked a new record from the $64,800 level seen by the coin in April.

The next leg up for Bitcoin could take it to a price that has the ultimate meme potential: $69,420. The price would combine two of the most popular numbers in social media and meme land and could be a big event for the cryptocurrency.

See Also: Why Bitcoin Could Reach $160,000 (Or Higher) 'In The Next Few Months'

Why It’s Important: Some people have already pointed to the potential price of Bitcoin hitting the $69,000 price.

Bitcoin bull Anthony Pompliano called for Bitcoin at $69,420 as a potential internet-breaking event.

$69,420 bitcoin price will break the internet.

— Pomp 🌪 (@APompliano) October 15, 2021

pic.twitter.com/pCO0wNNZtz

— Elon Musk (@elonmusk) October 21, 2021

Tesla Inc TSLA CEO Elon Musk tweeted a meme Wednesday showing the price of Bitcoin at $69,000 and Ethereum ETH/USD at $4,200. Musk has been known to use 69 and 420 in memes and references.

In 2018, Musk tweeted that he secured funding to take Tesla private at $420 per share. Tesla remained public.

GameStop Corp GME had one of the biggest stock stories ever earlier this year with a short squeeze of epic proportions. Many on social media called for GME shares to hit the $420.69 level.

GME shares have traded between $10.36 and $483 over the last 52 weeks.

Photo: Thought Catalog from Pexels