Bitcoin surged above $ 39,000 after Tesla boss Elon Musk said the electric car maker would restart cryptocurrency transactions when mining is done with cleaner energy. Bitcoin was trading at $ 39,209.54 at 7:20 am IST Monday on the coinmarketcap.com index, up 9.60% on a day-to-day basis. This is the largest single-day percentage gain since June 9.
“When there is confirmation of reasonable (around 50%) clean energy use by miners with a positive future trend, Tesla will resume allowing Bitcoin transactions,” the celebrity CEO tweeted after the director General de Sygnia criticized Musk for “manipulating the price of bitcoin”. Musk also said Tesla sold around 10% of the holdings to confirm bitcoin can be liquidated easily without moving the market.
The recent surge pushed Bitcoin’s market cap to $ 733 billion, or over 45% of the cryptocurrency’s total market cap. The popular cryptocurrency has gained nearly 7% in the past seven days. However, Bitcoin is still down almost 40% from its all-time high of $ 64,778.04 on April 14.
Ether, Binance Coin also climbed on June 14. While Ether rose 3.83% to $ 2,502.70, Binance Coin was up 4.69% to $ 365.26.
Take a look at the top cryptocurrencies and their prices on June 14 (data from coinmarketcap.com when posting the article):
Bitcoin $ 39,209.54 9.6% change in 24 hours
Ethereum $ 2,502.70 3.83% change in 24 hours
Binance Coin $ 365.26 4.69% change in 24 hours
Tether $ 0.999 0.14% change in 24 hours
Cardano $ 1.56 4.28% change in 24 hours
Dogecoin $ 0.3251 3.48% change in 24 hours
XRP $ 0.8816 5.10% change in 24 hours
Polkadot $ 22.09 4.88% change in 24 hours
USD Coin $ 0.9998 0.14% Change in 24 Hours
Uniswap $ 23.01 6.15% change in 24 hours
Last week, El Salvador became the first country in the world to approve Bitcoin as legal tender. “With 62 votes, the legislative plenary session approves the #LeyBitcoin with which El Salvador adopts #Bitcoin as legal tender,” Salvadorian President Nayib Bukele said. “This will bring financial inclusion, investment, tourism, innovation and economic development for our country,” added the Salvadoran president. “The government will guarantee convertibility at the exact dollar value at the time of each transaction “, he added.
Blockchain implementation specialist Martijn Bolt predicted that “El Salvador will become the financial powerhouse of the future.”
The Enforcement Directorate (ED) has issued a show cause notice to WazirX, the largest crypto exchange in India for transactions worth over Rs 2,790 crore in alleged violation of the Money Management Act. changes (FEMA). ED opened the investigation based on an ongoing money laundering investigation into “illegal” Chinese-owned online betting apps, the law enforcement agency said.
“WazirX complies with all applicable laws. We go beyond our legal obligations by following the Know Your Customer (KYC) and Anti Money Laundering (AML) processes and have always provided information to law enforcement authorities whenever necessary, ”said said Nischal Shetty, Managing Director of WazirX.
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