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After Elon Musk’s Tweet, Bitcoin surges to new heights?



Bitcoin is reaching new heights after so many ups and downs. On Monday, it goes to its extreme high if we compare its performance with the past two weeks. You won’t believe it but it surged to the highest value that is about $40000 which is about INR 29.2 lakhs. This up and down is the constant result of Tesla company’s owner Elon Musk.

Is Elon Musk affecting Bitcoin?

Bitcoin came into much acquaintance of investors when first time Elon Musk tweeted about it. From that time, his continuous tweets are affecting the cryptocurrency market on regular basis. Many allegations have also been imposed on Elon Musk for affecting the Cryptocurrency market to such an extent.

As you must be aware that Tesla company has sold Bitcoin and stopped investing and accepting Bitcoin. This decision was taken by Tesla company owner Elon Musk by giving some genuine reasons. And many even have started following their role model and stopped investing in bitcoin too.

He gave the reason that while mining Bitcoin,

hardcore mining is required that directly affects our environment and he will anyhow don’t accept anything that will cause harm to mother nature.

Although, in his earlier tweets, he said that – Bitcoin is an excellent source of investment and business. But later on, his tweets have taken a new turn, and many ardent followers who first started investing in Bitcoin suddenly pull their hands from Bitcoins.

50% clean energy

But like every instant, this time to Elon Musk has taken a U-turn and said that in the future he can think investing and accepting Bitcoins but only if the company of Bitcoins ensures that they will mine this way that not much harm will be done to nature and they will use 50% clean energy in mining, then only they can think of it.

Earlier tesla company announced that they will invest about 1.5 billion dollars in Bitcoins, but they dropped this plan later on.

Other cryptocurrencies held steady after posting gains over the weekend. Ether stood at $2,491 (roughly Rs. Dodgecoin price in India was Rs 23.78 at 12:30 PM (IST) on 14th June.

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