Bitcoin Eyes $40K as Musk Says Tesla May Use Crypto in Future

Bitcoin Eyes $40K as Musk Says Tesla May Use Crypto in Future

Bitcoin looks north as Tesla CEO Elon Musk says the electric-car maker will accept the cryptocurrency as an alternative payment subject to miners meeting environmental standards.

The cryptocurrency is trading near $39,200 at press time, representing an about 11% gain on a 24-hour basis. Prices hit a 2 1/2-week high of $39,794 earlier Monday, according to CoinDesk 20 data.

Buyers stepped in on Sunday after Musk tweeted that Tesla will allow bitcoin transactions again “when there's confirmation of reasonable (50%) clean energy usage by miners with a positive future trend.”