In cryptocurrencies, the price of bitcoin has climbed back to the mark above $32000 after it was trading below the mark of $30000 level for the past two sessions. This huge surge came after the billionaire Elon Musk said that his space exploration company SpaceX is also owning digital tokens, and there is no plan for selling them.
The other cryptocurrencies like Dogecoin, ether have also gained a higher price as Tesla CEO said that he personally owns all these three digital coins. Also, Tesla and SpaceX are both exclusively owning Bitcoin.
As per CoinDesk, Bitcoin has surged over the 7% mark to the $32000 level. Ether, which is linked to the Ethereum blockchain, got up to $1980.8. Dogecoin also made its gain over 9% to $0.18. The other digital coins like Cardano, XRP, and Uniswap have also jumped in the range of 6-10% over the last 24 hours.
While speaking at “The B Word,” which the Crypto Council for Innovation had hosted, Elon Musk said that if the price of bitcoin goes down, he will lose money. He might pump it up, but he won’t dump it.
Musk has said the Tesla would more likely resume acceptance of Bitcoins for purchases once the mining becomes less harmful for the environment.
Bitcoin is now making its shift to renewable energies. Musk said, “I would want to do a little bit more diligence to confirm the percentage of renewable energy usage is at or above 50%.”
Since the middle of May, Bitcoin and all other cryptos have tumbled. It has wiped $1.3 trillion off its market value. Bitcoin has faced a range of difficulties, which is also including the stepping up of the regulatory scrutiny in China, Europe, and the U.S. Also, there are concerns regarding the energy needed for the computers, which are underpinning it. Bitcoin this year has faced a shrunk near 8%, which is following up a slide from an April record of nearly $65000.