Bitcoin Twitter scam: What is the cryptocurrency?

Bitcoin is an entirely virtual currency that works without the need for a central bank, and can be sent over the internet. Coins are transferred directly from person to person, and are kept in a digital wallet that can be accessed on a computer or mobile device.

Amazon chief executive Jeff Bezos, Tesla founder Elon Musk and Microsoft’s Bill Gates all saw their Twitter accounts posting saying any donation of 1,000 US dollars in Bitcoin would be returned with 2,000 dollars of the cryptocurrency.

Kanye West, Joe Biden and Barack Obama’s accounts also posted similar messages.