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

The rollercoaster ride continues.

Tech & Gadgets
7,346 Hypes 5 Comments

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.

Read Full Article

What to Read Next

Elon Musk’s Appeal to Remove ‘Twitter Sitter’ Rejected by Supreme Court
Tech & Gadgets

Elon Musk’s Appeal to Remove ‘Twitter Sitter’ Rejected by Supreme Court

Musk was legally mandated to have a lawyer pre-approve his tweets.

Elon Musk's xAI To Launch Revamped Version of Grok Chatbot
Tech & Gadgets

Elon Musk's xAI To Launch Revamped Version of Grok Chatbot

Just two weeks after the original rolled out to the public.

Elon Musk Says He's Going “Absolutely Hardcore” on Tesla Staffing
Automotive

Elon Musk Says He's Going “Absolutely Hardcore” on Tesla Staffing

He’s reportedly planning to lay off 20% of the company’s workforce.


Elon Musk Sued by 8 Former SpaceX Employees Alleging Sexual Harassment and Retaliation
Tech & Gadgets

Elon Musk Sued by 8 Former SpaceX Employees Alleging Sexual Harassment and Retaliation

The former SpaceX engineers allege that Musk personally ordered their firings after they raised concerns.

'SpongeBob SquarePants' and Vans Customs Unveil New Collaborative Prints
Footwear

'SpongeBob SquarePants' and Vans Customs Unveil New Collaborative Prints

Celebrate the fun characters of Bikini Bottom on your choice of any Vans Classic silhouette.

Catch All the Action Outdoors With Nocs Provisions' Compact Zoom Tube Monocular
Design

Catch All the Action Outdoors With Nocs Provisions' Compact Zoom Tube Monocular

It can also be used as a 32x power microscope.

Bruno Mars Sells Portion of Song Catalog to Warner Chappell Music
Music 

Bruno Mars Sells Portion of Song Catalog to Warner Chappell Music

Reportedly making the deal “more than six months ago.”

WESN and Momotaro Team up for a Limited-Edition Denim-Bound Pocket Knife
Design

WESN and Momotaro Team up for a Limited-Edition Denim-Bound Pocket Knife

Only 150 are being made.

Boxzes' New "Emphabox 1000%" Will Protect Your Beloved BE@RBRICKs
Toys

Boxzes' New "Emphabox 1000%" Will Protect Your Beloved BE@RBRICKs

In collaboration with Shanghai Pioneer Trend Art Space E2W East and West Space.


'Attack on Titan' Sets Guinness World Record for Largest Comic Book Ever Published
Entertainment

'Attack on Titan' Sets Guinness World Record for Largest Comic Book Ever Published

You can still apply to purchse one.

Twitch Adds 350 New Tags to Promote Gender Diversity
Gaming

Twitch Adds 350 New Tags to Promote Gender Diversity

“Our hope is that these new tags help every community.”

New Balance MT580 Receives a Sleek "Triple Black" Makeover
Footwear

New Balance MT580 Receives a Sleek "Triple Black" Makeover

Weatherized with GORE-TEX.

Capcom Teams up With Cocalero for 'Resident Evil'-Themed Herbal Spirit
Food & Beverage

Capcom Teams up With Cocalero for 'Resident Evil'-Themed Herbal Spirit

To promote the franchise’s upcoming Netflix series.

Reebok Answer IV Receives Fiery "Team Purple" Colorway
Footwear

Reebok Answer IV Receives Fiery "Team Purple" Colorway

One of the more colorful takes on the Iverson classic.

More ▾
 
We got you covered. Don’t miss out on the latest news by signing up for our newsletters.

By subscribing, you agree to our Terms of Use and Privacy Policy.