Bitcoin Price Returns to $40,000
Nothing like an Elon Musk comment and an Amazon rumor to get cryptocurrency markets swirling again.
The price ofrose 15% in 24 hours to top $40,000 today for the first time since mid-June. The coin then dipped back below and currently sits at just shy of $39,700, according to data from CoinMarketCap.
It’s the first time since June 15 that BTC has poked above the $40,000 mark. After reaching an all-time high of nearly $65,000 in April, the coin lost over half of that value, bottoming out at $29,360 just six days ago.
That was before a Bitcoin conference known as “The B Word,” during which Elon Musk rekindled his on-again, off-again relationship with the digital asset and made public that his rocket company, SpaceX, had bought BTC.
An Amazon job listing for a blockchain developer then sparked rumors that the retailer is developing its own cryptocurrency—though the company only says that’s it’s exploring crypto as a payment solution.
Bitcoin’s rising price comes with renewed optimism for other cryptocurrencies., for example, is up 10% in the last 24 hours, and one has to look outside the top-20 coins by market cap to find a coin in the red.
The world’s largest cryptocurrency has a market cap of nearly $750 billion, while the global crypto market cap now stands at $1.57 trillion, a 12% increase from this time yesterday.