Bitcoin soars close to $40,000, attracts high-profile interest 

Posted by News Express | 27 July 2021 | 998 times

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Tesla, Twitter and maybe Amazon: Big tech companies are interested in bitcoin and it could take off again after several weeks of laying low.

Bitcoin soared close to $40,000 on Monday after electric carmaker Tesla expressed fresh support for the world’s most popular cryptocurrency.

It leapt 15 percent in Asian trade to a one-month high at $39,681, buoyed also by reports that US retail titan Amazon was mulling the use of crypto technology.

Bitcoin later eased back to $38,880 in European deals.

Analysts said the sudden jump was the result of several developments.

The US investment group Ark Invest organised last week what it called “The B Word”, an event aimed at promoting the virtual currency.

The group had Tesla founder Elon Musk and Jack Dorsey of Twitter reaffirm their interest in bitcoin.

Musk has been ambivalent about the digital currency, sometimes singing its praises, while also expressing concern about its environmental impact. (AFP)

 


Source: News Express

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