Bitcoin (BTC) rises after Musk says Tesla might settle for the crypto once more

SpaceX Founder and Chief Engineer Elon Musk speaks at the 2020 Satellite Conference and Exhibition on March 9, 2020 in Washington, DC.

Win McNamee | Getty Images

Bitcoin’s price rose after Tesla CEO Elon Musk said Sunday that the electric vehicle maker could start accepting Bitcoin transactions again in the future.

Bitcoin jumped to $ 39,240, according to Coinbase, up 9.5% in the last 24 hours, compared to the $ 34,880 level at the start of Sunday trading. Since the beginning of the year, Bitcoin is up more than 30%, despite seeing wild swings. It hit an all-time high of $ 64,829.14 in April and hit a low of nearly $ 30,000 in May after a 30% intraday crash.

The weekend gains came after Musk said on Sunday that Tesla would resume Bitcoin transactions “if there is confirmation of reasonable (~ 50%) clean energy use by miners with a positive future trend.”

Tesla stopped buying Bitcoin cars in mid-May, citing concerns about the climate impact of cryptocurrency mining.

Crypto mining requires enormous amounts of energy to run powerful computers – Bitcoin mining uses more energy than entire countries like Finland and Belgium, according to the Cambridge Bitcoin Electricity Consumption Index.

Bitcoin in the focus of the environment

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