Bitcoin has suddenly surged higher, climbing firmly above the psychological $60,000 per bitcoin for the first time since mid-March.
The bitcoin price hit highs of $61,240 on the Luxembourg-based Bitstamp exchange before falling back slightly, a rise of 5% on the last 24 hours. Meanwhile, ethereum, the second-largest cryptocurrency after bitcoin, rose to a fresh all-time high above $2,100.
The precise cause of the early Saturday morning bitcoin price surge was not immediately clear, however, a cryptic tweet from Tesla TSLA billionaire and bitcoin buyer Elon Musk has spurred the market higher.
Elon Musk, the billionaire chief executive of both Tesla and SpaceX, often moves the bitcoin and … [+]
“… going to moon very soon,” Musk said via Twitter, shortly after the bitcoin price leaped higher, perhaps referencing the popular bitcoin “moon” meme and sparking speculation Musk’s rocket company SpaceX could follow Tesla in adding bitcoin to its balance sheet.
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“SpaceX buying bitcoin?” asked Danny Scott, the chief executive of Isle of Man-based bitcoin and cryptocurrency exchange CoinCorner.
At the end of last year, Elon Musk set the bitcoin and cryptocurrency market alight when he tweeted about the posibility of making large bitcoin purchases. In the following weeks, Tesla added $1.5 billion worth of bitcoin to its balance sheet.
Meanwhile, Musk has continued to talk up his “fav” cryptocurrency, the “joke” bitcoin rival, dogecoin.
On April 1, Musk said his private rocket company SpaceX is going to put a “dogecoin on the literal moon”—sending the price of the meme-based cryptocurrency up 35%.
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Author: Billy Bambrough, Contributor