Bitcoin Reclaims $40K Ahead of Tesla’s Earnings

Bitcoin has managed to shrug off the bearish Tether news, rallying above the $40,000 level for the first time in more than a month

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Mon, 26/07/2021 - 18:54

Bitcoin Reclaims $40K Ahead of Tesla’s Earnings

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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.

Elon Musk Says Tesla Will "Most Likely" Resume Accepting Bitcoin

Despite a bombshell Bloomberg report about Tether being under a criminal investigation, the top cryptocurrency continued rallying ahead of Tesla’s earnings.

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.

#Bitcoin News

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.