Blockchain Stocks Up As Bitcoin Regains Strength At $40,000 Level.
Bitcoin has seen significant gains today, as well as stocks of companies related to the world's top cryptocurrency following Elon Musk's reassuring tweet indicating that Tesla will accept the leading cryptocurrency again.
What Happened: CoinMarketCapdatasuggests that Bitcoin price grew by over 14.3% from its 24-hour low of $36,000 to a high of nearly $41,000, before settling at its current price of $40,306 at press time.
According to Paolo Ardoino, CTO of Bitfinex, "the king of crypto is carrying cryptocurrency markets higher."
"Meanwhile, Bitcoin’s utility and use cases such as the Lightning Network continue to strengthen and grow. While it is important to always take a long-term view, we’re seeing a quiet optimism return to the market," he added.
Cryptocurrency mining enterprise Riot Blockchain Inc.(NASDAQ:RIOT) shares are up over 20% Monday, beating even Bitcoin's growth over the last 24-hours, with a stock price of $37.25.
Microstrategy(NASDAQ:MSTR)'s stock has been 15% up Monday and was trading at $590 at press time. The company has invested almost all of its revenue into Bitcoin and raising further capital through the issuance of bonds to buy even more.
Microstrategy recentlyannouncedthat it intended to raise $400 million to buy Bitcoin but thendecidedto raise $500 instead, and the bond offering got oversubscribed to a total of $1.6 billion.
Lastly,Tesla Inc(NASDAQ:TSLA) has seen its shares rise by 1.28% Monady after Musk's statement.
The shares were trading at $618 at press time.