Bitcoin closes in on $40K after Elon Musk's tweet: Check latest prices of 10 cryptocurrencies here
Falling from an all-time high of $64,829 on April 14, the world's biggest and best-known currency lost nearly $1 trillion in valuation in the last few days as fears emerge around the state regulation of digital assets .
May 25, 2021 / 09:36 AM IST
Bitcoin is nearing the $40,000 level again after Elon Musk tweeted. [Illustration by Suneesh K | Moneycontrol]]
The cryptocurrency market saw a slight jump in prices after Tesla and SpaceX founder Elon Musk asked his Twitter followers to submit ideas to “develop Doge” (cryptocurrency Dogecoin).
Musk also tweeted he was having discussions with North American bitcoin miners about the sustainability of the digital currency and they looked promising. Bitcoin touched nearly $40,000 following the tweet.
Falling from an all-time high of $64,829 on April 14, the world's biggest and best-known currency lost nearly $1 trillion in valuation in the last few days with fears emerging around the state regulations around digital assets.
China’s crackdown on mining and trading of cryptocurrencies, as part of efforts to prevent speculative and financial risks, fueled these fears.
There have also been growing concerns over the environmental cost of bitcoin and Musk seemed to address those in his tweet about bitcoin.
Here are the prices of the 10 largest cryptocurrencies at 8.15 am on May 25 (data from coinmarketcap.com) :
> Bitcoin: $38,305
> Ethereum: $2,570.39
> Tether: $1
> Binance Coin: $342.60
> Cardano: $1.54
> Dogecoin: $0.3441
> XRP: $0.9696
>Internet Computer: $142.04
>Bitcoin Cash: $707.97
You can also check the prices at Coinbase and cryptocurrency news platform CoinDesk.