Bitcoin jumped nearly 10 percent late Sunday after Elon Musk tweeted that Tesla may resume accepting the cryptocurrency as payment.
Bitcoin was trading at around $39,200 early Monday, up from about $36,000 Sunday morning, according to Coindesk data. While that’s still far below bitcoin’s all-time high of more than $60,000 in April, it represents somewhat of a recovery from a recent low of just above $30,000 in May.
The rally came in the few hours surrounding a tweet from Elon Musk, in which the Tesla CEO said Tesla plans to resume bitcoin transactions once the energy used to mine the cryptocurrency is cleaner.
“When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions,” Musk tweeted Sunday afternoon.