Bitcoin price rises after Tesla ( CEO Elon Musk tweeted on Sunday that the electric car maker will resume accepting cryptocurrency once at least half of it can be mined using clean energy. )
Musk did not say anything about how he expected clean energy use to be monitored, nor did his company immediately respond to a request for comment from CNN Business.
The price of the cryptocurrency jumped to over $ 39,400 early Monday morning – a jump of about 12.5% from the previous day, according to Coinbase.
Bitcoin has been incredibly volatile since the start of the year. It started in January at around $ 29,400, according to Coinbase, and hit $ 64,899 in April. Musk’s tweets seem to have contributed to its volatility. After announcing that Tesla would no longer accept bitcoin, it fell 12%.
Musk said in the tweet on Sunday that his company had only sold around 10% of its bitcoin holdings “to confirm that BTC could be liquidated easily without moving the market.”
Other cryptocurrencies were also up on Monday morning. Ethereum rose more than 7.7% on Monday morning, according to Coinbase, while dogecoin rose about 5%.
– Rishi Iyengar contributed to this report.