Bitcoin above $ 32,000, ether, dogecoin continue to soar. Check crypto prices

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In cryptocurrencies, Bitcoin prices continued to trade above the $ 32,000 level today, rebounding after falling below $ 30,000 earlier in the week as billionaire Elon Musk said SpaceX owns the digital token and has no plans to sell it. According to CoinDesk, the world’s largest cryptocurrency by market cap rose more than 2% to $ 32,705.39.

Other cryptocurrencies like Ether, Dogecoin also continued to gain after the Tesla boss said he personally owns the above three digital tokens, while Tesla and SpaceX both exclusively own Bitcoin. Ether, the coin linked to the ethereum blockchain, was trading above the $ 2,000 level as it jumped more than 4% to $ 2,066. Dogecoin gained almost 4% to $ 0.18. Digital tokens like Cardano, XRP, Litecoin, Stellar, Uniswap were also trading with decent gains in the last 24 hours.

Tesla Inc. already owns Bitcoin, but CEO Musk revealed at a conference Wednesday that his space exploration company SpaceX also owns it. Ark Investment Management LLCs Wood said companies should consider adding Bitcoin to their balance sheets, while Jack Dorsey described it as resilient.

Musk also said that Bitcoin mining is moving towards renewable energy, “and his company will likely resume accepting cryptocurrency as a form of payment for its electric cars. Tesla suspended purchases using Bitcoin in May by due to concerns about the use of fossil fuels in mining, triggering a drop in digital currency.

Some $ 1.3 trillion has been erased from the market value of cryptocurrencies since mid-May. Bitcoin has faced a series of hurdles, including increased regulatory oversight in China, Europe, and the United States and concerns about the power required for the computers that underpin it.

(With contributions from agencies)

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