The world’s most popular cryptocurrency – Bitcoin is approaching $40, 000 million once again after Tesla CEO Elon Musk tweeted that he was having active discussions with the bitcoin miners regarding the sustainability of the digital currency.
Bitcoin was over $39,000 before falling back down towards $37, 000. “Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising”, Musk said on Monday.
“Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment. Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy,” he added.
Musk has been a big supporter of cryptocurrencies, however his relationship with the digital coin changed earlier this month. Previously this month he tweeted, “suspended vehicle purchases” using bitcoin, out of concern over “rapidly increasing use of fossil fuels” for bitcoin mining.
“Long-term value investors might call these lower prices a buying opportunity. Investors should invest in education first. Research the underlying value of Bitcoin, Ethereum, and other crypto assets as you might look at a company’s information before buying stocks. Use strategies like rupee cost averaging and SIPs to more confidently manoeuvre through volatility and take a long-term view,” Musk said.
Ethereum’s price has seen the rise around 7% to $2,453.48 in the last 24 hours, while dogecoin has seen almost 3% to 33 cents a coin rise.
