A statement by Elon Musk, the world's second-largest billionaire, halted the decline in cryptocurrencies like bitcoin for several days. Bitcoin, which has gone below $ 30000, is now trading above $ 32000. Elon Musk said his space exploration company SpaceX also owns the digital currency and has no plans to sell it. Other cryptocurrencies such as Ether, Dogecoin are also owned by Tesla owner Musk, who said that he personally owns the above three digital currencies, while Tesla and SpaceX own Bitcoin.
After this statement of Musk, bitcoin jumped 7 percent in the last 24 hours to reach $ 32,200. Ether reached $1,980.8, according to Quadesk, while Dogecoin jumped 9 percent to $0.18. Talking about other digital coins, XRP, Cardano, Uniswap are also seeing a jump of 6 to 10%.
Musk says, “I want to see a rise in bitcoin. If the price of bitcoin falls, I lose. I can pump but don't dump." Musk said Tesla Mining will resume accepting bitcoin for purchase once it's less environmentally taxed.
Bitcoin and other cryptos have declined since mid-May, losing about $1.3 trillion from their market cap. Bitcoin has faced a number of hurdles ahead of regulatory scrutiny in China, Europe and the US. Bitcoin is facing a record low since hitting $65,000 in April.
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