By Elon Musk
Elon Musk, president of Tesla, said that Tesla would soon accept Bitcoin as payment. Cryptocurrency investors have been continuously investing since the announcement.
Announcement from El Salvador
El Salvador, a Central American country, announced on May 9 that it would use Bitcoin as its official currency. Not only this, the country’s president, Nayib Bukele, has said that the country will generate electricity from the heat of the volcano and use it for the production of bitcoins.
A monthly bitcoin stumble
Bitcoin was trading at $ 29,000 after the China and Tesla pullout, and it rose to $ 34,000 after the El Salvador announcement. Elon Musk has now decided to return Bitcoin to Tesla as payment, with a Bitcoin value in excess of $ 40,000.
Current value of Bitcoin
In the last 24 hours, the value of Bitcoin has risen to $ 41,046, registering a growth of 1.33 percent. It has registered a growth of 38.48% since 2021.
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