Bitcoin, the original cryptocurrency, had surpassed a $40,000-mark again on Monday, hitting a two-week peak following another weekend of sharp upward spiral, as Tesla Inc Chief Elon Musk had repelled criticisms over his growing crypto market influence and said that the Californian e-vehicle mogul might accept Bitcoin as a payment method again.
In point of fact, Bitcoin prices had circled over and over again on Musk’s remarks since Tesla Inc. had purchased $1.5 billion worth of bitcoin on February this year, while the e-vehicle industry trailblazer’s earlier move to accept payment in bitcoin had soared the digital currency to an all-time high above $60,000.
This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market.
When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.
— Elon Musk (@elonmusk) June 13, 2021
Bitcoin surges again after Musk’s remarks
Citing statistics, Bitcoin, which had climbed over 10 per cent on Sunday, brushing aside its 20-day moving average that could signal an action potential for further spikes on a technical viewpoint, added another 4.3 per cent on Monday to wind down the day at 40,629.27, remarking an expedition above a $40,000-mark for the first time in two weeks.
Bitcoin has been up about 40 per cent this year, while Tesla Inc stocks fell more than 30 per cent since its purchase of $1.5 billion worth of Bitcoins on February this year.