Bitcoin skyrockets 12% after one tweet by Elon Musk

The price of Bitcoin was up by almost 12 percent to $39,432, wiping out losses from the past week, but still down 34% from last month’s record high. Meanwhile, most of the coins in the top 20 crypto-list experienced a similar upsurge. Tesla’s CEO said the company would begin accepting Bitcoin transactions if the crypto market shifts in favor of clean energy.

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The Tesla CEO has tweeted a lot about cryptocurrency recently, pushing bitcoin prices up and down. Despite Musk’s tweets not necessarily being posted for financial gain, they still have a significant effect on cryptocurrencies.

Source: CNN