According to U.Today, MicroStrategy co-founder Michael Saylor has taken note of Elon Musk's new profile picture featuring the 'laser eyes' meme. This meme gained popularity among Bitcoin enthusiasts during the 2021 bull run, symbolizing a hyper-focus on driving Bitcoin's adoption and success. The campaign aimed to push Bitcoin's price to $100,000, with various celebrities and politicians joining the trend to show their support for the cryptocurrency.

Musk's profile picture change has sparked rumors about his potential attendance at the Bitcoin conference in Nashville. Following Musk's apparent endorsement, Bitcoin's price briefly surged past the $68,000 mark. Tesla, which initially acquired $1.5 billion worth of Bitcoin in February 2021 and accepted it as a payment method, later dropped Bitcoin due to environmental concerns related to its mining process. This decision led to significant backlash within the Bitcoin community. Some speculate that Tesla might be preparing a new Bitcoin-related announcement.

In May 2021, Musk stirred the Bitcoin community by suggesting that Dogecoin could surpass Bitcoin if it achieved sufficient scaling. Tesla is also set to report its earnings on July 23, following a delay in its much-anticipated robotaxi event. As per U.Today, Tesla held $184 million worth of digital assets according to its Q1 report.