The highest-volume unit in the cryptocurrency markets rose above $40,000 after Elon Musk, CEO of electric vehicle manufacturer Tesla, announced that he would start accepting Bitcoin again in vehicle sales if Bitcoin miners get only half of the energy they use from renewable sources.
In a statement on Twitter, Musk said “When there’s confirmation of reasonable (~50%) clean energy usage by miners with the positive future trend, Tesla will resume allowing Bitcoin transactions.”
He did not give any information on how to measure this rate, although it climbed above 12 percent. Bitcoin dragged all the markets after it.
In markets that were almost all in the red before the announcement, 93 of the top 100 units went up in the last 24 hours.
Emphasizing that Bitcoin started to climb right after Musk‘s tweet, analysts noted that “Cryptocurrency markets tables, which were almost all in red, suddenly turned into a green sea.”
With the effect of the developments, Bitcoin, which fluctuated between $34,885.46 and $39,746.35 in the last 24 hours, increased by 12.13 percent to $40,176.84, while the weekly gain of the unit was calculated as 7.92 percent. Bitcoin’s total market cap also increased by about $78billion to $733 billion.
Ethereum, the second-largest unit of the cryptocurrency markets, rose 6.84 percent to $2,502.13 in the last 24 hours. It was fluctuating between $2,312.64 and $2,547.37. The unit’s weekly loss was 10.53 percent, and the market cap was $288 billion, up nearly $17 billion.
Tether, the third largest unit of the cryptocurrency markets, fell 0.02 percent in the last 24 hours when it fluctuated between $0.9996 and $1.00. The unit’s weekly loss was 0.01 percent, and the market cap was unchanged at $62 billion.
This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market.
When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.
— Elon Musk (@elonmusk) June 13, 2021
With the effect of purchase heavy transactions in the markets, the value of only seven units of the top 100 cryptocurrencies’ value fell in the last 24 hours, while two units from the top 10 units were among those that fell.
With these developments, the total volume in all markets rose from 1.0 trillion 621 billion dollars to over 1.5 trillion dollars again.
