Bitcoin hit a two-week peak of gaining $40,000 on Monday, after another weekend reacting to tweets from Tesla boss Elon Musk, who fended off criticism over his market influence and said Tesla sold bitcoin but may resume transactions using it.
Bitcoin has gyrated to Musk’s view for months since Tesla announced a $1.5 billion bitcoin purchase in February and said it would take the cryptocurrency in payment.
He later said the electric car maker would not accept Bitcoin due to concerns over how mining the currency requires high energy use and contributes to climate change.
Musk had tweeted in May that Tesla “will not be selling any bitcoin” and “has not sold any bitcoin,” but investors are keenly awaiting Tesla’s next earning updates-due next month-for any disclosure of changes to its position.
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