Saturday, February 4, 2023
News Media Empire
  • About Us
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • Home
  • World News
  • Politics
  • Business & Economy
  • Money
  • Science & Tech
  • Opinion
  • Lifestyle
  • Health
  • Sports
  • Entertainment
  • Crypto
No Result
View All Result
  • Home
  • World News
  • Politics
  • Business & Economy
  • Money
  • Science & Tech
  • Opinion
  • Lifestyle
  • Health
  • Sports
  • Entertainment
  • Crypto
No Result
View All Result
News Media Empire
No Result
View All Result
Home Money

Bitcoin price tops US$40,000 after Musk says Tesla could use it again

June 14, 2021
in Money
0
Bitcoin price tops US$40,000 after Musk says Tesla could use it again
0
SHARES
Share on FacebookShare on TwitterShare on RedditShare on Whatsapp


Bitcoin climbed above US$40,000 on Monday, after yet another weekend of price swings following tweets from Tesla boss Elon Musk, who fended off criticism over his market influence and said Tesla sold bitcoin but may resume transactions using it.

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

Get Free Advertise Coin

“When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions,” Musk said on Twitter on Sunday.

Bitcoin, which jumped nearly 10 per cent on Sunday, breaking above its 20-day moving average, was up 4.3 per cent on Monday at 40,692.27, its first foray above US$40,000 in more than two weeks.

Story continues below advertisement

Read more:
Tesla to use Bitcoin again only if it’s mined using clean energy, Elon Musk says

“Musk’s words caused bitcoin to surge,” said Simon Peters, market analyst at eToro.

Bitcoin was also supported Monday after billionaire hedge fund manager Paul Tudor Jones told CNBC on Monday that bitcoin is a great way to protect his wealth over the long run and is part of his portfolio just like gold.

Trending Stories


  • Canada tops world in vaccinated population as new COVID-19 cases fall below 1,000


  • Witness describes events leading up to fatal 2019 boat crash involving Linda, Kevin O’Leary

Bitcoin prices were also helped by software company and major bitcoin-backer MicroStrategy raising half a billion dollars to buy bitcoin, said Bobby Ong, co-founder of crypto analytics website CoinGecko.

Bitcoin is up about 40 per cent this year but has collapsed from a record peak above US$60,000 amid a regulatory crackdown in China and Musk’s apparently wavering enthusiasm for it. Tesla stock is down about 30 per cent since the company’s bitcoin purchase.

Musk’s tweet was made in response to an article based on remarks from Magda Wierzycka, head of cybersecurity firm Syngia , who in a radio interview last week accused him of “price manipulation” and selling a “big part” of his exposure.

 


Click to play video: 'El Salvador 1st country to make Bitcoin legal tender'






2:27
El Salvador 1st country to make Bitcoin legal tender


El Salvador 1st country to make Bitcoin legal tender

“This is inaccurate,” Musk said. “Tesla only sold ~10 per cent of holdings to confirm BTC could be liquidated easily without moving market.”

Story continues below advertisement

Musk had tweeted in May that Tesla “will not be selling any bitcoin” and “has not sold any bitcoin” but investors are keenly awaiting Tesla’s next earnings update – due next month – for any disclosure of changes to its position.

Musk has taken issue with the vast computing power required to process bitcoin transactions and in early June posted messages appearing to lament a breakup with bitcoin.

(Reporting by Tom Westbrook in Singapore, Tom Wilson in London, and Saqib Iqbal Ahmed in New York; editing by Chizu Nomiyama and Jason Neely)








Source link

Tags: bitcoinbitcoin elon muskBitcoin pricebitcoin stock priceBitcoin TeslaElon Muskelon musk bitocinMoneymusk bitcoinWorld
Previous Post

The delay to freedom is entirely Boris Johnson’s fault. Don’t let him tell you otherwise – Fleet Street Fox

Next Post

America giddy with post-pandemic normalcy: Baseball, church, proms, weddings, vacation getaways

Related Posts

Mini air fryer croissants that are ready for breakfast in just eight minutes
Money

Mini air fryer croissants that are ready for breakfast in just eight minutes

February 4, 2023
Martin Lewis urges people to claim 'massive' state pension top-up - see if you can
Money

Martin Lewis urges people to claim 'massive' state pension top-up – see if you can

February 4, 2023
Full list of shops, pubs and banks closing this year from Paperchase to Wetherspoon
Money

Full list of shops, pubs and banks closing this year from Paperchase to Wetherspoon

February 4, 2023
Next Post
America giddy with post-pandemic normalcy: Baseball, church, proms, weddings, vacation getaways

America giddy with post-pandemic normalcy: Baseball, church, proms, weddings, vacation getaways

Tory MP ordered to make public apology over 'grossly unprofessional' bullying

Tory MP ordered to make public apology over 'grossly unprofessional' bullying

Science and pop culture look to the skies to answer the ultimate question: Are we alone?

Science and pop culture look to the skies to answer the ultimate question: Are we alone?

Discussion about this post

AdvertiseCoin ADCO Get Now Free
News Media Empire

Newsmediaempire is an online news source that provides the latest news and other information about everything that you must need to know. It publishes news related to various fields like world, business, sports, politics, tech, health, lifestyle, and other different exclusive stories.

Let's connect!

Categories

  • Business & Economy
  • Crypto
  • Entertainment
  • Health
  • Lifestyle
  • Money
  • Opinion
  • Politics
  • Science & Tech
  • Sports
  • World News

Recent News

  • WATCH | 2 minutes in! Libbok assists Jantjies for Stormers’ opening try | Sport February 4, 2023
  • Top Whales Are Buying This Crypto Even After Massive 200% Rally February 4, 2023
  • World Cancer Day: Canadian patients still facing delays in care. What can be done? – National | Globalnews.ca February 4, 2023

Join Our Newsletter!

    • About Us
    • Contact
    • Privacy Policy
    • Terms & Conditions

    newsmediaempire.com © 2021 All rights reserved.

    No Result
    View All Result
    • About Us
    • Contact
    • Home 1
    • Home 2
    • Home 3
    • Privacy Policy
    • Random
    • Sample Page
    • Terms & Conditions

    newsmediaempire.com © 2021 All rights reserved.

    en English
    ar Arabicbg Bulgarianzh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.