Bitcoin traded for more than $40,000 on Monday after Elon Musk tweeted that Tesla would settle for payment in cryptocurrencies once mining can be done with cleaner energy.
“When there is confirmation of moderate use (approximately 50%) of blank energy through miners with a long-term positive trend, Tesla will start allowing Bitcoin transactions again,” the billionaire said in a tweet.
He responded to a co-telegraph report citing Magda Wierzycka, a South African billionaire businesswoman and chief executive of asset manager Sygnia, saying Musk’s bitcoin-related tweets have led to a regulatory investigation.
Bitcoin posted additional gains after billionaire Paul Tudor Jones said on CNBC that he liked virtual assets as a wallet diversifier. “What I’m sure of is I need 5% gold, 5% bitcoin, 5% cash, 5% raw materials,” he said Monday.
The cryptocurrency was last traded 13% more around $40,700 on Monday at 9:35 a. m. ET, and has increased by 40% so far this year.
“The charts recommend consolidation followed through recovery targets of $41,000, plus gains at around $44,000,” said Jeffrey Halley, senior market analyst at OANDA.
“We are involved in expanding the use of fossil fuels for mining and bitcoin transactions, especially coal, which has the worst emissions of any fuel,” Musk said in a tweet at the time.
It is not yet known how Musk will gather knowledge to assess bitcoin’s target energy use, but in the past he has warned that the cryptocurrency can get rid of its negative environmental symbol if the most productive miners turn out to be using greener energy by publishing verified knowledge. on renewable energies used.
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