Elon Musk Announces He Will Be 'Off Twitter for a While'

Elon Musk has said that he will be "off Twitter for a while."

The Tesla and SpaceX founder made the surprise announcement on the micro-blogging site in the early hours of Tuesday, February 2, and he has not yet revealed the reason behind the decision.

Musk has long been an extremely active Twitter user, regularly using the site to post memes, share product updates and interact with fans, brands, celebrities and members of the public, and his account has more than 44 million followers, making it one of the most popular on Twitter.

Off Twitter for a while

— Elon Musk (@elonmusk) February 2, 2021

It therefore comes as a surprise to see him step away from the site even if it is only on a temporary basis, at it appears to be.

Musk raised eyebrows at the weekend by making an appearance on Clubhouse, a little-known, invite-only, audio-centric social network that lets users host conversations with guests, which other people can listen in on and interact with by submitting questions of their own.

Musk answered a variety of questions from participants and also spoke to Vladimir Tenev, the under-fire co-founder of Robinhood, which halted trading of GameStop and several other stocks last week after users of the subreddit R/WallStreetBets worked together to challenge hedge fund investors who bet against the company's share price by short-selling.

That came just days after Musk tweeted about Etsy and GameStop, sending their stocks surging.

A January 26 tweet professing his apparent "love" of Etsy appeared to align with Etsy shares rising by around 9 percent in premarket trading Tuesday.

GameStop stock, meanwhile, surged by around 50 percent in extended trading after Musk linked to the Reddit community r/wallstreetbets later on that same day, along with the caption "Gamestonk!!"

Musk also tweeted about bitcoin and Dogecoin last week, which led to significant boosts for both cryptocurrencies and their holders.

The value of Dogecoin, a cryptocurrency that was created as a joke in 2013, surged by more than 800 percent after Musk tweeted about it, but then plummeted after he changed his Twitter bio to read "#bitcoin."

That, in turn, led to a 20 percent increase in bitcoin's value, sending it soaring to $37,000 from $32,000.

In the Clubhouse interview at the weekend, Musk said that he was "a supporter of bitcoin," adding that he believes it "is really on the verge of getting broad acceptance by conventional finance people."

"I was a little slow on the uptake there," he admitted. "I had to think about it for a bit but I do think bitcoin is a good thing."

Musk also clarified his stance on Dogecoin, which he has also tweeted about in the past, saying: "Occasionally I make jokes about Dogecoin, but they are really just meant to be jokes."

Elon Musk celebrating at a SpaceX launch
Elon Musk celebrates after the successful launch of the SpaceX Falcon 9 rocket with the manned Crew Dragon spacecraft on May 30, 2020 in Cape Canaveral, Florida. Musk has caused widespread surprise by saying he will be "off Twitter for a while". Joe Raedle/Getty Images