A sudden hike was seen in the prices of crypto currency after Elon Musk’s statement. As now, the billionaire is ready to accept crypto currency for the purchase of car, so it came as a relief for the investors. Let us tell you, after Elon Musk denied accepting cryptocurrency for purchasing cars, these currencies saw a decline in its price but now the investors could invest on these crypto currencies with confidence.
After Elon’s Statement Cryptocurrencies Saw A Hike of 16%
After the news came on Sunday from the electric car maker, today on 15 June 2021 (Tuesday), cryptocurrencies saw a hike of 16% and among these Bitcoin is exceeding the rally and is followed by Polkadot and Ethereum. Last month, Musk stopped accepting cryptocurrencies because of environmental concerns as the mining of these cryptocurrencies generate a lot of waste which is harmful for environment as well as climate change. But he has ensured that he will resume accepting it if the miners will use more renewable energy which is not harmful for the surrounding.
After this statement, crypto market has once again got its mojo back and among these Bitcoin has gained high and was trading at INR 29,75,528 and hit the day’s high of INR 30,06,643 after sliding to INR 26,41,398 as day’s low at 11.30 AM on June 14 2021. So, Musk’s statement came as a boost to the investors.
Cryptocurrencies And Their Value Today On June 15, 2021 At 9:30 AM
Sygnia CEO Magda Wierzycka put allegations on Musk that he is manipulating crypto prices. Relying to his tweet, Musk said, “This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market.”
While virtual currencies are tumbling over high energy use, Crypto market has gained high. However, this sudden U-turn of Tesla’s CEO was not the only trigger, around the same time, The Chinese Government also cracked down on institutions dealing in cryptocurrencies. For more latest updates on cryptocurrencies, stay connected.