Bitcoin rallies, boosted by Tesla and Amazon.

At around 9:10 am GMT (11:10 am in Paris), bitcoin gained 11% to $ 38,289, as Tesla boss Elon Musk claimed the group could once again accept cryptocurrency as a means of payment, while press reports claim that ‘Amazon is also planning to use industry technologies.

There is no fundamental information to explain why bitcoin, which was still trading below $ 30,000 six days earlier, jumped during the Asian session by nearly 15%, to reach $ 39,681, a high since mid-June.

But after a few lean months, bitcoin has benefited from several positive news in the last few days, “and purchases have multiplied since the + The B Word + conference last week,” Fawad Razaqzada, analyst at last week, told AFP. ThinkMarkets.

Elon Musk reassured by toughening against bitcoin “miners”

Elon Musk, serial entrepreneur, at TED2013: The Young, The Wise, The Undiscovered. Wednesday, February 27, 2013, Long Beach, CA. Photo: James Duncan Davidson

Last week, Elon Musk claimed his space company SpaceX held bitcoin, as Tesla already does. Importantly, he said his concerns about the environmental cost of cryptocurrency were lessened by the tightening of Chinese laws against bitcoin “miners”. These companies essential to the operation of the decentralized bitcoin network but greedy in electricity will relocate to regions where energy comes from less polluting sources, estimates the billionaire.

In addition, on Friday, Amazon posted a recruitment ad for a cryptocurrency project manager position. “It will start with bitcoin,” says an anonymous source to the CityAM business daily. “It’s still pure speculation for now,” said Susannah Streeter, analyst at Hargreaves Lansdown, however. While she considers “likely that more and more large players will accept cryptocurrencies,” she advises investors to place “only a marginal portion” of their portfolio in this sharply moving sector.

“This morning’s effervescent bitcoin price has been exaggerated by a significant number of downside bets that have been lost,” commented James Bennett of cryptocurrency analyst ByteTree on Twitter. A first moderate upward movement has prompted investors betting on a decline to liquidate their position, which can exacerbate the rise of a financial asset.


Leave a Reply

Your email address will not be published. Required fields are marked *