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Bitcoin rises as Tesla may accept cryptocurrencies for payment again

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Matt Hougan, CIO of Bitwise Asset Management, explained how Bitcoin prices have risen above 30,000 and how aggressive regulation will affect the crypto market.

Bitcoin was trading more than 4% higher early Thursday morning.

According to Coindesk, the price was around $ 32,180 per coin, while rival Ethereum rose 7% at 2,004 and Dogecoin rose 15% at 24 cents per coin.

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Elon Musk’s latest comments have helped boost Bitcoin and other cryptocurrencies.

Tesla’s CEO said electric car makers are likely to resume accepting Bitcoin as a payment once they carry out due diligence on the amount of renewable energy used to mine currencies, according to Reuters. I will.

Musk commented at the B-word meeting on Wednesday, with Bitcoin prices reaching 8%.

That’s another turnaround after Tesla said it would stop accepting Bitcoin for car purchases in May.

“We needed a little more due diligence to see that renewable energy usage was likely to be above 50% and that number tended to increase. If so, Tesla would have to use Bitcoin We will resume acceptance, “says Musk.

ELON MUSK owns these three cryptocurrencies

Musk added that he personally owns Bitcoin, Ethereum and Dogecoin, apart from the Bitcoins owned by Tesla and SpaceX.

In other crypto news, Core Scientific Holding Co announced on Wednesday that it will open a crypto miner in a transaction valuing $ 4.3 billion through a merger with a BlackRock Inc-backed blank check company.

According to Reuters, Core Scientific mined 928 Bitcoins in the second quarter and forecasts revenues of $ 439 million and $ 1.1 billion in 2021 and 2022, respectively.

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According to the company, it is 100% net carbon neutral and aims to stay in that state as it grows.

Power & Digital, a special purpose acquisition company (SPAC), raised $ 345 million in a major initial public offering in February.

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2/ https://www.foxbusiness.com/markets/bitcoin-7-22

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