Bitcoin Price Returns to $40,000

Nothing like an Elon Musk comment and an Amazon rumor to get cryptocurrency markets swirling again.

The price of Bitcoin topped $40,000 today for the first time since mid-June. The token then dipped back below and currently sits at just shy of $39,700, according to data from CoinMarketCap.

It’s the first time since June 15 that BTC has poked above the $40,000 mark. After reaching an all-time high of nearly $65,000 in April, the coin lost over half of that value, bottoming out at $29,360 just six days ago.

That was before a Bitcoin conference known as “The B Word,” during which Elon Musk rekindled his on-again, off-again relationship with the digital asset and made public that his rocket company, SpaceX, had bought BTC.

An Amazon job listing then sparked rumors that the retailer is jumping into the cryptocurrency development game.

The world’s largest cryptocurrency now has a market cap of nearly $750 billion.

26 July 2021 19:54