What does Diamond Hands mean? Elon Musk's latest tweet sparks memefest online as Bitcoin takes centre stage

Elon Musk, aka The Dogefather, has seemed to have come to the rescue of a close ally, that being Bitcoin, after his latest tweet related to "Diamond Hands" sent the internet into a collective frenzy.

The Tesla CEO and Space X Chief recently took to Twitter to inform skeptics that "Tesla has Diamond Hands" - common terminology used in the stock market realm to refer to someone who tirelessly holds onto their stocks till the very end, regardless of the risks involved.

Diamond Hands stands in stark opposition to the phrase "Paper Hands," which refers to someone who easily folds under pressure and exits a position due to the massive risks involved.

Within moments of him tweeting, his tweet spread like wildfire and ended up attracting a plethora of reactions from several bigwigs from various sectors, in addition to triggering a landslide of memes online.

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Elon Musk's recent "Diamond Hands" tweet leaves the internet divided

Elon Musk's recent tweet comes in the wake of a devastating lull that has plagued the cryptocurrency market, with the likes of Ethereum and Dogecoin drastically dropping in price following his critical remarks on Bitcoin's energy use and a renewed crackdown by China.

Despite the not-so-encouraging circumstances, Musk's tweet is a clear indicator of the fact that Tesla will hold its billion-dollar position in the world's biggest digital currency.

Elon Musk has come under fire online ever since he announced that his clean energy company would no longer accept the digital token as a legitimate source of payment, until developers were able to find a way for it to curtail use of excessive energy during the mining process.

His latest tweet triggered a collective meltdown online, as thousands upon thousands of Twitter users and notable members of the online community descended upon the comments section to vent their grievances via a mix of humor, faith and criticism:

Despite a strong duality of perceptions existing online, the majority of cryptocurrency investors will be hoping that Elon Musk triggers a much-needed and sustained revival, as the crypto market looks to recover from its present shambolic state.

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