Bitcoin jumped above $39,000 after Elon Musk said Tesla Inc. would resume transactions with the cryptocurrency when mining is done with more clean energy.
The transactions will start back up “when there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend.”
Musk also reiterated the electric-car maker had sold about 10% of its Bitcoin holdings to demonstrate the token’s liquidity.
His tweet was in reply to a report in Cointelegraph, which cited Magda Wierzycka, executive chair of South African asset manager Sygnia, as saying Musk’s recent tweets on Bitcoin should have prompted an investigation by the US Securities and Exchange Commission.
The cryptocurrency was up as much as 9.3% to $39,371.93 on Sunday in New York. The billionaire has whipsawed Bitcoin and other digital tokens with a string of social media posts in the past few months.