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Bitcoin Price rises today again after Elon Musk’s Tweet

Bitcoin touched a two-week high of $40,000 (about Rs 29.2 lakh) on Monday. The reason for this boom in bitcoin is once again Elon Musk, who has often been criticized for influencing the crypto market. Tesla company owner Elon Musk has said once again that Tesla may have sold bitcoin but it may once again start anew when it comes to payments.

In February 2021, Tesla announced that it would invest $ 1.5 billion (about Rs 10,980 crore) in bitcoin. It was also announced that it would also accept bitcoin as a form of payment. Since that time, bitcoin has been diving into the vortex of Elon Musk’s statements.

Then came Elon Musk’s statement that since bitcoin mining consumes a lot of energy and is responsible for the changes in the environment, our electric car company is rejecting it as payment.

Now on Sunday, Elon Musk again posted a post on Twitter in which he said, “Tesla will re-pay this digital currency once miners are sure that up to 50 percent of clean energy is being used in bitcoin mining.” will be accepted as such.”

After his tweet, bitcoin jumped 9 percent and broke its last 20-day moving average to reach $ 39,838.92 (about Rs 29.1 lakh) in Asia.

Bobby Ong, the co-founder of crypto analytics website CoinGecko, said: “The market was going through another period of correction over the weekend… until Elon Musk’s tweet of accepting BTC again for Tesla purchases made sense. changed.”

He added that the software company and major bitcoin-supporter MicroStrategy had also raised half a billion dollars to buy bitcoin.

Bitcoin is up about 33 percent this year. But amid regulatory crackdown in China and Musk’s apparent enthusiasm for it, it has fallen from a record high above $60,000 (about Rs 44 lakh). Telsa stock is down nearly 30 percent since the company’s bitcoin purchase.

Musk’s tweet was made in response to an article based on comments by Magda Wirzyca, the head of cybersecurity firm Syngia. who in a radio interview last week accused him of “manipulating the price” and selling a “large part” of his exposure.

“This is false. Tesla only sold a 10% stake to confirm that BTC can be easily liquidated without affecting the market,” Musk said.

Musk tweeted in May that Tesla “will not sell any bitcoin” and “has not sold any bitcoin”. But investors are waiting for Tesla’s next earnings update, which will come next month. So that you will be able to know what has changed in its condition.

Other cryptocurrencies held steady after posting gains over the weekend. Ether stood at $2,491 (roughly Rs. Dogecoin ​price in India was Rs 23.78 at 12:30 PM (IST) on 14th June.

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