Bitcoin jumped almost 16% on Monday, close to $ 40,000. Altcoins rose in price even more, the total cryptocurrency market capitalization soared by 24%. Cryptocurrencies have risen in price amid news of Elon Musk’s meeting with miners.
The CEO of Tesla has had a strong influence on the crypto market in the past. This time, Elon Musk announced a meeting with bitcoin miners on the use of renewable energy sources, writes ttrcoin.
“I spoke with North American bitcoin miners. They intend to report on the current and planned use of renewable sources and ask miners around the world to do the same. Potentially promising, ”Musk wrote on Twitter.
The meeting took place in a closed format at the end of last week, and was organized by the CEO of MicroStrategy, Michael Saylor. According to him, the meeting was attended by representatives of such companies as Argo, BLOCKCAP, Core Scientific, Galaxy Digital, HIVE, Hut 8, Marathon and Riot.
“Miners have agreed to form a Bitcoin Mining Council to promote transparency in energy use and accelerate sustainability initiatives around the world,” Sailor wrote.
Anthony Pompliano, a well-known cryptocurrency enthusiast and founder of Morgan Creek Digital, said that during the panic in the market, bitcoin whales bought more than 122 thousand BTC. For the analysis, data from Glassnode were used, writes news.crypto.pro.
Cryptocurrency hedge funds polled by Bloomberg also confirmed that they were buying the asset when the price was falling. London-based companies MVPQ Capital and ByteTree Asset Management, as well as Singapore-based Three Arrows Capital, took advantage of the market decline to make purchases.
“Every time margin positions are liquidated substantially, there is a good buying opportunity. I wouldn’t be surprised if BTC and ETH regain their losses in a week, ”said Kyle Davis, co-founder of Three Arrows Capital.
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