Bitcoin crosses the $40,000 barrier: did it take off?

Bitcoin Recover Back

Following a tweet from Elon Musk, the top cryptocurrency soars more than 10%.

Tesla Inc Chief Executive Elon Musk tweeted on Sunday that the electric car maker will resume negotiations with bitcoin when the miners verifying the transactions use more renewable energy. The message shot more than 10% to the cryptocurrency that has now surpassed the barrier of $40,000.

“When you have confirmation reasonable use of clean energy (~ 50%) by the miners with positive future trends, Tesla will allow Bitcoin transactions”, he said in a tweet, he said in a tweet.

The rise comes in a week in which several analysts predicted that Bitcoin will have an exponential increase in the coming months.

Elon Musk also said that Tesla sold about 10% of the holdings to confirm that bitcoin could be easily liquidated without moving the market.

It announced in May that Tesla would no longer accept bitcoin for car purchases, citing long-standing environmental concerns over a rapid reversal in the company’s position on cryptocurrency. Bitcoin fell more than 10% after his tweet.

Elon Musk said that he believed that cryptocurrency has a promising future, but that it cannot be at a higher cost to the environment.

In February, Tesla revealed that it had bought $1.5 billion worth of bitcoin and would accept it as a form of payment for cars.