The price of Bitcoin has shot up 13% in 24 hours to close on $40,000.
At the time of writing (7am), BTC is a little higher than $39,500 and 9% up on its value seven days ago.
After falling towards the $30,000 trap door last Tuesday when former US President Donald Trump labelled it a “scam”, it seems the long bull run which saw it top $60,000 a few weeks ago could still be on.
However the price rise could be temporary as it seems to be a reaction to a tweet from Tesla entrepreneur Elon Musk.
Tesla’s decision to stop accepting Bitcoin over environmental concerns – mining for Bitcoin is extremely power-intensive – sparked a fall a few weeks ago.
Musk replied to a tweet yesterday to say that Tesla will again allow Bitcoin transactions when miners use at least 50% of renewable energy.
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
BTC dragged up the price of the other most valuable coins, with not a single one among the top 100 losing value.
Ethereum (ETH), which set a record price of $4,300 just last month, is back to $2,500 after an 8% climb in 24 hours. However it is 10% down on its price a week ago.
Ripple’s XRP coin, which hit $1.91 a few weeks ago, was up 7% to almost 88 cents but is 9% down in a week.
Dogecoin (DOGE), the coin created as a crypto parody and based on a meme, rose 5% to 33 cents. It is 13% below its valuation seven days ago.
The biggest winners were The Graph (GRT) and Fantom (FTM), which both climbed more than 20%. However they are 12% and 20% down, respectively, over seven days.
To see how the valuations of the biggest movers and shakers – and main coins – have changed over the last few days, click here.
For up-to-the-minute valuations of the top 100 coins by market cap, and the one-hour price change, see below.
To see the Crypto Rich List, the world’s richest people in cryptocurrency, scroll down to the bottom of the page.