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Matt Hogan, CIO at Bitwise Asset Management, on the Bitcoin price rally again above 30,000 and how “positive regulations” could affect the crypto market.
Bitcoin traded more than 4% early Thursday morning.
The price was around $32,180 per coin, while rival Ethereum was up 7% at 2,004 and Dogecoin was up 15% at 24 cents per coin, according to Coindesk.
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Elon Musk’s recent comments help boost bitcoin and other cryptocurrencies.
The Tesla CEO says the electric car maker will likely re-accept bitcoin as payments once it conducts due diligence on the amount of renewable energy used to mine the coin, according to Reuters.
Musk made the comments at the B Word conference on Wednesday, sending the price of bitcoin to 8%.
It’s yet another shift after Tesla said in May that it would stop accepting bitcoin to buy cars.
“I wanted more due diligence to stress that the percentage of renewable energy use is likely to be 50% or higher, that there is a trend towards that number increasing, and if that is the case, Tesla will resume accepting bitcoin,” Musk said.
ELON MUSK owns these 3 cryptocurrencies
Musk added that he personally owns Bitcoin, Ethereum and Dogecoin, with the exception of Bitcoin, which is owned by Tesla and SpaceX.
In other cryptocurrency news, Core Scientific Holding Co said on Wednesday it will go public through a merger with a blank check company backed by BlackRock Inc, in a deal valuing the crypto-mining company at $4.3 billion.
Core Scientific said it mined 928 bitcoins in the second quarter and forecast revenue of $493 million and $1.1 billion for fiscal years 2021 and 2022, respectively, according to Reuters.
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The company said it is 100% net carbon neutral and aims to stay the same as it grows.
Special purpose acquisition company (SPAC) Power & Digital raised $345 million in a massive initial public offering in February.
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