Bitcoin Price Rebounds 17% Following Elon Musk's "Potentially Promising" Tweet

The rollercoaster ride continues.

Tech
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After a turbulent few weeks for Bitcoin, which saw its value plummet from an all-time high back down to almost sub-$30,000 USD levels on some trading platforms, the cryptocurrency has now rebounded to near $40,000 USD thanks to yet another tweet from Elon Musk.

Taking to Twitter once again, Musk explained that he’s been speaking to North American Bitcoin miners regarding the virtual currency’s sustainability efforts, an issue which recently caused the billionaire to backtrack on his decision to accept Bitcoin for Tesla purchases. The CEO says that miners have “committed to publish current & planned renewable usage” and are urging other miners across the globe to do the same. He ended the message with “Potentially promising,” and caused the coin’s value to rebound by 17 percent over just 24 hours.

As of writing, Bitcoin is now trading at $38,436 USD according to Coindesk.

In other related news, Goldman Sachs now considers Bitcoin as a new asset class.

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