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bitcoin as legal tender

Bitcoin hits 11% after Musk’s new comment on renewable power

Bitcoin recorded over 11% rise Sunday when following Elon Musk’s comment that Tesla Inc. will resume accepting bitcoin when mining is done with some 50% clean power.


“When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions”, Musk said on Twitter on Sunday.

Bitcoin hits $39,000 representing morethan 11 % increase in value, according to Coindesk data as a result of that revelations.

Bitcoin had seen record market movements as a result of Musk’s comments.

For example, in January bitcoin recorded sharp rise in values following announcement that Tesla had invested $1.5 billion in Bitcoin.

See also: First country adopts Bitcoin as legal tender

The impact was sharp decrease in May when Musk announced Bitcoin suspension for Tesla cars transactions. As a result, Bitcoin fell 13 percent on Sunday after the world’s biggest and best-known cryptocurrency suffered another sell-off that left it down nearly 50 percent from the year’s high

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