Bitcoin up after Musk announced Tesla could use it again

14.06.2021 - Petr Mazaylo
Bitcoin up after Musk announced Tesla could use it again

Bitcoin reached a two-week high just below $40,000 on Monday following Elon Musk’s announcement via Twitter that tesla may resume transactions using the world’s largest cryptocurrency.

Bitcoin advanced more than 9% after Musk’s tweet, breaking above its 20-day moving average, and it jumped slightly further in Asia to hit $39,838.92.

Bitcoin has gyrated to Musk’s views for months since Tesla announced a $1.5 billion bitcoin purchase in February and said it would take the cryptocurrency in payment.

Later on, Musk said the electric car maker would not accept bitcoin due to concerns over how mining the currency requires high energy use and contributes to climate change.

Bitcoin is up about 33% this year but has collapsed from a record peak above $60,000 amid a regulatory crackdown in China and Musk’s apparently wavering enthusiasm for it. Telsa stock is down about 30% since the company’s bitcoin purchase.

In other crypto coins, ether was steady at $2,491, and one-time Musk darling dogecoin buying about 32 U.S. cents on crypto exchange Binance.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.net or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?