Bitcoin Rises With Elon Musk's Tweet!

  Bitcoin Rises With Elon Musk's Tweet!  

-What Actually Happened?

Commodity stocks following the cryptocurrency have been benefiting from the rising Bitcoin trend since the start of the week. At noon, Grayscale Bitcoin Trust, Canaan and CleanSpark Shares are on the rise for this reason. In fact, these increases are proceeding in a very logical framework. Why Are Grayscale Bitcoin Trust, Canaan, and CleanSpark Stocks Soaring?

-What İs The Reason?

It's no longer a secret that Elon Musk is a Bitcoin (CRYPTO:BTC) fan. Over the weekend, Tesla TSLA (NASDAQ) $617,69 +7,80 (+%1,28) CEO Elon Musk was disappointing with his tweet confirming the rumor that Tesla was selling 10 % of the Bitcoins it owned. In response to this bad news, Tesla tweeted that it will continue to allow customers to purchase Tesla cars with Bitcoin, given the news that Bitcoin miners are starting to use renewable energy to power at least 50 % of the energy they use.

Bitcoin Rises With Elon Musk's Tweet!

-As A Conclusion

- These statements have caused Bitcoin prices to increase by about 9 % since the Friday stock market close. As a result, it brought a similar amount of increase in Grayscale shares with Bitcoin stock. - It is normal for Canaan, the manufacturer of integrated circuits used in Bitcoin mining in China, to appreciate in anticipation that more mining and more computer purchases may increase with Musk's support. - Most logically, CleanSpark, which is known for its rising price, energy regulation and software for energy efficiency, announced last month that a 95 % carbon-free energy use can now be integrated into Bitcoin mining with the use of nuclear power, hydroelectric power and solar. All of this seems to be the strategic moves Tesla CEO Elon Musk has set to get Bitcoin back into the game. Bitcoin Rises With Elon Musk's Tweet!  

Source: The Motley Fool

 

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