Bitcoin regained 30,000 USD and continued to rebound to 32,000 USD. One of the forces supporting the price increase came from the cryptocurrency talks of celebrities in the currency circle. Musk said on Wednesday (21st) that the use of renewable energy was increased due to mining activities. With results, Tesla may re-accept Bitcoin as payment. For him personally, Bitcoin constitutes a large part of his assets and he does not want to see a price drop.
Musk talked with Twitter (TWTR-US) CEO Jack Dorsey and founder of Ark Investment Cathie Wood on Wednesday. He revealed at The ₿ Word conference that his assets are apart from Tesla (TSLA-US) and SpaceX, which have the highest share of Bitcoin, have no incentive to stimulate prices.
He said: “I want to see Bitcoin succeed. If it falls, I will lose money. I may cheer for Bitcoin, but I will not abandon it.”
He revealed that in addition to Bitcoin and Dogecoin, he also holds Ether (ETH). In addition, the space company SpaceX also holds Bitcoin and does not intend to sell it.
Musk also said that as long as mining power consumption increases the proportion of renewable energy, Tesla may resume accepting consumer payments in Bitcoin in the future.“I hope to do more on-site inspections to confirm whether the renewable energy usage rate is likely to remain or exceed 50%. The current data shows that the rate is increasing. The final answer may be that Tesla is re-accepting Bitcoin payments.”
Bitcoin once fell below an important support of $30,000 on Tuesday and hit a one-month low. This year’s gains have disappeared. However, it rebounded on Wednesday and expanded after Musk’s talk. It rose to $32,820 around 2pm Eastern Time. , An increase of more than 8%.
The cryptocurrency began to fall in mid-May, and the total market value has so far evaporated by 1.3 trillion US dollars. Bitcoin’s recent bad news has been frequently reported due to China’s increased regulatory power, Europe and the United States have doubts about the mining and expansion of large amounts of energy, and investors have also become more cautious about speculative assets.
Female stock gods: Putting Bitcoin on the balance sheet can avoid deflation
“Female stock gods” said at the meeting that companies can consider including Bitcoin on their balance sheets to avoid deflation.
She suggested that the US Financial Accounting Standards Board (FASB) reconsider the classification of Bitcoin. The current situation is that Bitcoin is falling, and institutions must reduce their holdings. However, if the classification of Bitcoin is changed to “tangible assets”, this problem can be improved.