The price of bitcoin (BTC) rose by about 4% after Elon Musk, the founder and CEO of Tesla Inc., tweeted that he held active conversations with North American Bitcoin miners discussing the sustainability of the cryptocurrency.
Bitcoin advanced its value to trade around $39,000 following the tweets on Monday, May 24. The largest cryptocurrency by capitalization once dropped its price to as low as $31,132 on Sunday.
Elon Musk and Michael Saylor tweeted on Monday, announcing that they held a call meeting event on Sunday, May 23, with major North America Bitcoin miners, including publicly traded companies, Hut 8 Mining Corp and Michael Novogratz’s Galaxy Digital, to discuss the transparency of Bitcoin energy consumption. The call event was part of an effort to educate the cryptocurrency market that sustainable mining is possible and a priority.
The meeting between the Tesla CEO and Bitcoin miners of North America led to the establishment of the Bitcoin Mining Council, which will…