Home Ethereum Ethereum price shoots above $2k after Elon Musk reveals he personally invested in bitcoin rival

Ethereum price shoots above $2k after Elon Musk reveals he personally invested in bitcoin rival

3 min read
Comments Off on Ethereum price shoots above $2k after Elon Musk reveals he personally invested in bitcoin rival
10

The value of Ethereum (ether) has shot up after Elon Musk revealed that he personally invested within the cryptocurrency.

The know-how billionaire was talking at The ₿ Phrase convention on Wednesday, alongside Twitter CEO and distinguished crypto advocate Jack Dorsey, along with his feedback pushing the bitcoin rival above $2,000.

“Bitcoin does some issues effectively, and it’s evolving… Usability for the typical individual isn’t nice however it has lots of potential,” he stated.

“On stability I assist bitcoin and cryptocurrency usually.”

>> Follow all the latest crypto market updates with The Independent’s live blog

Earlier this 12 months, the Tesla boss made headlines after asserting that his firm would settle for bitcoin as a type of cost for electrical automobiles, nonetheless subsequently backtracked after citing environmental issues about bitcoin’s community.

The cryptocurrency has since shifted extra in direction of renewable vitality sources following a significant crackdown in China on bitcoin mining operations, which had been largely powered by coal-fuelled energy vegetation.

Tesla additionally introduced a $1.5 billion funding into bitcoin in February, making it the world’s second largest company investor behind the software program agency MicroStrategy.

A small portion of this was subsequently offered off however the majority continues to be held by Tesla regardless of the current worth slide.

After reaching an all-time excessive above $64,000 in mid April, bitcoin’s worth has fallen to round half its peak worth and is at the moment buying and selling at simply above $32,000.

Market actions have usually been attributed to feedback made by Mr Musk, with the worth surge and crash each coinciding with Tesla’s acceptance and rejection of the cryptocurrency.


Source link

Comments are closed.

Check Also

Coin98 gains 1,200% after Binance listing, Ampleforth soars on Aave integration

Few issues within the cryptocurrency house generate extra hype than a brand new token item…