Musk’s bitcoin boost

BITCoIN climbed above $ 40,000 after Tesla boss elon Musk said the electric car maker may resume accepting the crypto- currency as payment.

Bitcoin has gyrated to Musk’s views for months since Tesla announced a $1.5bn purchase in February and said it would accept it as payment. Musk later said Tesla would not accept bitcoin due to concerns over how it needs high energy use and contributes to climate change.

But he changed his position again on sunday and bitcoin rose above £40,000 for the first time in more than two weeks having crashed to around $30,000.

‘Musk’s words caused bitcoin to surge,’ said simon peters, analyst at etoro.