Bitcoin Rises Again as Elon Musk Backs Cryptocurrency

• Bitcoin which was already up by 14.36% yesterday got a further boost after a tweet from billionaire Elon Musk

• According to Musk, he had spoken to BTC miners in North America and there were plans to adhere to renewable energy usage

• This sparks a significant turnaround after the billionaire recently revealed that Tesla will not be accepting the flagship coin anymore due to its energy consumption.

The crypto market appears to be bullish again after significant turnaround news.

Tesla CEO, Elon Musk revealed that he was in talks with North American Bitcoin miners and they had promised to publish current & planned renewable usage and ask other miners world with you to the same.

This stands as good news to the crypto-verse because Musk’s statement about BTC energy consumption and environmental effect sparked a sell-off on May 13.

Musk revealed that Tesla will no longer be accepting the flagship crypto as payment for its products.

Bitcoin fell as low as $31,000 on Sunday, its lowest level since last year.

Monday’s recovery was sparked by investment from affluent personalities who bought the dip.

Within just minutes of Elon’s mining tweet, BTC boosted to reach $39,966.

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Microstrategy CEO, Michael Saylor has also stated that he had a meeting with Elon Musk and a group of BTC miners and a Bitcoin mining council has been formed.

At the time I this report, Bitcoin is trading at $38,133, with a market cap of over $700 billion.

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