Bitcoin, the largest cryptocurrency, has managed to reclaim the psychologically important $40,000 level at 6:49 p.m. UTC on the Bitstamp exchange.
It is currently changing hands at its highest level since June 15.
Bulls recently turned the tables on bears amid rumors that Amazon is going to accept Bitcoin payments.
The e-car manufacturer will report its second-quarter financial results after the market close.
During “The B Word” conference, CEO Elon Musk confirmed that the company didn’t intend to sell its Bitcoin holdings.