The bitcoin price is once again surging, pulling the rest of the crypto market up with it.
Leading cryptocurrencies, including Ethereum (ether), Cardano (ada) and dogecoin were all in the green at the start of the week, pushing their combined value above $1.75 trillion for the first time since May.
The turn-around was triggered by Tesla boss Elon Musk, who tweeted on Sunday that the electric car maker would begin accepting the cryptocurrency again “when there’s confirmation of reasonable (~50 per cent) clean energy usage by miners with positive future trend”.
Positive news for Ethereum also helped boost its price on Monday (which is still rising today): Goldman Sachs revealed plans to offer ether options.
The investment banking giant already offers options and futures trading in bitcoin but now wants to expand to its next closest rival.
You can follow all the latest news, analysis and price predictions right here.
Billionaire hedge fund manager Paul Tudor Jones has said he sees bitcoin as an important way for investors to diversify their portfolios, ranking it alongside gold in terms of total allocation.
“I like bitcoin. Bitcoin is math, and math has been around for thousands of years,” the head of the $44.6 billion Tudor Investment Corporation told CNBC’s Squawk Box.
“I like the idea of investing in something that’s reliable, consistent, honest and 100 per cent certain. So bitcoin has appealed to me, as it’s a way for me to invest in certainty.
“The only thing that I know for certain is I want to have 5 per cent in gold, 5 per cent in bitcoin, 5 per cent in cash, 5 per cent in commodities, at this point in time. I don’t know what I want to do with the other 80 per cent, I want to wait and see what the Fed’s going to do.”
Anthony Cuthbertson15 June 2021 07:42
Bitcoin price rally boosts crypto market
Good morning and welcome to The Independent’s live coverage of the crypto market.
Bitcoin has bounced back above $40,000 at the start of the week, which has helped fuel a recovery across the rest of the market.
After a volatile few weeks, the leading cryptocurrency is now trading at its highest level since May, while Ethereum (ether), Cardano (ada), dogecoin and other leading digital currencies are all in the green on Tuesday morning.
Stay with us and we’ll bring you all the latest news, analysis and expert predictions from the crypto space.
Anthony Cuthbertson15 June 2021 07:29
