Bitcoin hit a two-week peak just shy of $40,000 on Monday, after another weekend reacting to tweets from Tesla boss Elon Musk, who fended off criticism over his market influence
Tesla Inc Chief Executive Officer Elon Musk tweeted on Sunday that the electric carmarker will resume allowing bitcoin transactions when miners who verify transactions use more renewable energy.
The announcement from the Basel Committee on Banking Supervision is another sign that the world of traditional finance is responding to the rise of crypto assets
Basel Committee on Banking Supervision says the banking industry faces increased risks from cryptoassets because of the potential for money laundering, wild swings in prices
Bitcoin and other cryptocurrencies are currently worth around $1.6 trillion globally
Traders are waiting for the next catalyst to break Bitcoin from a $30,000 to $40,000 range that's been in place since a collapse from a record of almost $65,000 in April.
The move to make the virtual coin legal tender is a rare slice of good news for the largest cryptocurrency, which is struggling to recover from a rout in May.
The US recovered almost all the Bitcoin ransom paid to the perpetrators of the cyber attack on Colonial last month
The largest token tumbled almost 6% at one point in Asian trading Tuesday
For the year so far, bitcoin still showed net inflows of $4.2 billion
Wall Street banks divided on the relative merits of the pair: Citigroup sees gold 'losing luster' to cryptocurrencies, while Goldman Sachs believes the two assets can coexist.
Digital cash with in-built, self-executing software code will alter the future of money in a way that cryptocurrencies never could
Bitcoin is currently on a tumultuous ride thanks to Tesla CEO Elon Musk.
Twitter's CEO Jack Dorsey on late Friday (local time) was heckled at the Bitcoin 2021 conference held in Miami
Musk has been a major promoter of cryptocurrencies but has turned critical of bitcoin.
The cryptocurrency has lost 37% in May, which if sustained would be its worst monthly performance since September 2011.
Cryptocurrencies slipped on Thursday but without falling through recent lows, as enough traders clung to hopes that the asset class can claw its way back from last week's plunge
After giving a massive jolt to the cryptocurrency fans, Tesla CEO Elon Musk has now come forward to help form a Bitcoin Mining Council that will promote energy usage transparency
Bitcoin was trading 12% higher, at $37,655 as of 10:58 am in New York
Bitcoin climbed as high as $37,391