Bitcoin prices tumble higher as Elon Musk talks with crypto miners
PremiumMusk tweeted that he held a call with North American miners on Sunday to discuss energy usage transparency.
Elon Musk on Sunday said that he has talked with Bitcoin miners in North America to indicate support for what he says is an effort by miners to make their operations greener.
Musk tweeted that he held a call with North American miners on Sunday to discuss energy usage transparency.
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The world’s largest cryptocurrency advanced as much as 19% to trade around $39,944 following the tweets. It has slumped to as low as $31,132 on Sunday.
The latest was at least the fourth tweet by Musk that has sent Bitcoin prices running one way or another in the past two weeks.
Two weeks ago, Musk had announced that Tesla Inc. wouldn’t accept Bitcoin for cars because of its energy-intensive proof-of-transaction process.
Musk’s tweet criticizing the energy usage sent Bitcoin tumbling the most in years, wiping more than $500 billion from its market value. He later tweeted that he still believed in Bitcoin, helping the token recoup some of its losses.
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