Coinbase and Elon Musk Spark Bitcoin Revival with Nostalgic Wizard Clip

Elon Musk has once again ignited the cryptocurrency community's enthusiasm for Bitcoin through a cryptic endorsement involving a Coinbase post. On August 7, 2025, Musk responded with a single emoji to a Grok-generated animated clip reviving Bitcoin's iconic 2013 "magic internet money" wizard—a pixelated figure riding a gold coin, now reimagined with a neon-blue modern twist. This subtle yet powerful interaction on X (formerly Twitter) has reignited speculation about Musk's stance on Bitcoin and its potential resurgence in the crypto market. The nostalgic nod to Bitcoin's grassroots origins, combined with Musk's influence, has created a wave of bullish sentiment among investors and traders. Coinbase's role in showcasing this creative revival further cements its position as a key player in bridging crypto culture with mainstream adoption. As the market digests this development, all eyes remain on how such endorsements could shape Bitcoin's trajectory in the coming weeks.

Elon Musk Reignites Bitcoin Sentiment with Cryptic Endorsement

Elon Musk has once again signaled support for Bitcoin, this time through a single emoji response to a Coinbase post featuring a Grok-generated revival of the iconic "magic internet money" wizard. The August 7 interaction on X sparked immediate speculation about Musk's continued allegiance to the cryptocurrency. The animated clip reimagines Bitcoin's 2013 grassroots mascot—a pixelated wizard riding a Gold coin—with neon-blue modern flair.

The billionaire's minimalist engagement carries weight. Over the past month, Musk has increasingly woven Bitcoin into his public ventures. During the unveiling of his "America Party" political initiative, he dismissed fiat currency as "hopeless" while affirming Bitcoin's role in the movement. This latest nod reinforces Bitcoin's cultural resonance, recalling the wizard meme's origins in a 2013 Reddit contest where it became emblematic of cryptocurrency's anti-establishment ethos.

Coinbase Launches In-App DEX Trading for US Users, Excluding New York

Coinbase has rolled out in-app decentralized exchange (DEX) trading for US users outside New York, leveraging its Base blockchain to reduce costs and barriers to entry. The feature, teased earlier this year, allows traders to access millions of Base tokens through an integrated self-custody wallet, with network fees covered by Coinbase. solana integration is expected soon.

New York residents remain excluded due to regulatory constraints, sparking frustration among local traders. The MOVE signals Coinbase's push to dominate on-chain market accessibility, though geopolitical fragmentation persists.