Bitcoin and the rest of the crypto market is back on the up after a frenzied few weeks.
The price of btc was up more than 11 per cent over the day on Monday morning, after a surge overnight UK time.
But the crypto market rise was not enough to correct all of the losses of recent days: most cryptocurrencies, though not bitcoin, are down over the course of the week.
Much of the value appears to have been added by Elon Musk’s announcement that Tesla does aim to start taking the cryptocurrency in payment for its cars again – if it can prove itself to be sufficiently environmentally friendly.
It also follows a succession of positive news in the space, including El Salvador officially declaring bitcoin legal tender, as well as more interest from leading banks and hedge funds.
There has also been promising news in terms of bitcoin’s environmental impact, with China cracking down on mining in coal-heavy regions and El Salvador revealing plans to mine cryptocurrency using 100 per cent renewable geothermal energy from volcanos.
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