Musk: "North America Mining Promising" ... Bitcoin Approaches $40,000 (Update)

Goldman Sachs: "Bitcoin is a New Investment Asset... Worth Noting"

[Image source=Reuters Yonhap News]

[Asia Economy New York=Special Correspondent Baek Jong-min] Elon Musk, CEO of Tesla, announced that Bitcoin miners in the United States will disclose their current or planned use of renewable energy. He also claimed that the mining industry in the U.S. is very promising.

Boosted by Musk's remarks, Bitcoin momentarily surged to $39,600, aiming to re-enter the $40,000 range.

On the afternoon of the 24th (local time), Musk tweeted, "I spoke with North American Bitcoin miners. They have agreed to disclose their current or planned use of renewable energy. Furthermore, I will call on miners worldwide to join. Potentially promising."

Previously, Musk criticized Bitcoin for consuming a lot of energy during mining, but this time he supported North American miners by stating they use eco-friendly power. Last week, when Bitcoin's price plunged by 30%, Musk hinted that Tesla would not sell its Bitcoin holdings.

Recently, Musk withdrew his support for Bitcoin and instead backed Dogecoin, which uses relatively less energy. He also announced the suspension of Tesla vehicle payments via Bitcoin and hinted at the possibility of selling Tesla's Bitcoin holdings, causing significant market turbulence.

Musk's statements have caused excessive volatility in cryptocurrencies like Bitcoin and Dogecoin, leading to increased criticism against him.

His remarks came after China announced strong measures against Bitcoin mining. Following the announcement by Chinese authorities, mining-related companies originating from China have decided to halt mining services within the country.

BTCTop, one of the world's top 10 mining companies, announced on the 24th that it would relocate its mining operations from China to the U.S., citing regulatory risks as the reason for stopping mining activities in China.

Investment bank Goldman Sachs also gave a positive evaluation of Bitcoin on the same day, stating that Bitcoin is now considered an investable asset.

Goldman Sachs analyzed, "Many clients are trading Bitcoin as an asset. The emergence of a new asset is rare and noteworthy."

However, Goldman Sachs judged that Bitcoin has yet to fulfill the role of 'digital gold' as an inflation hedge, contrary to expectations. It is still regarded as a risky asset.

Following Musk's comments, Bitcoin, which had been hovering around $37,000 to $38,000, surged by 18% compared to 24 hours earlier, reaching $39,700.

Ethereum rose 23% to trade at $2,600. Dogecoin's price also increased by 23%, forming at 36 cents.

This content was produced with the assistance of AI translation services.