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Musk jolts bitcoin higher with ‘potentially promising’ tweet

Elon Musk continued to toy with the price of bitcoin on Tuesday, taking to Twitter to indicate support for what he says is an effort by coin miners to make their operations greener.

Mr Musk and Michael Saylor, another long-time bitcoin booster, tweeted that they held a call with major North American miners, including Michael Novogratz’s Galaxy Digital and publicly traded Hut 8 Mining on Sunday to discuss “energy usage transparency”. Mr Saylor said the group agreed to form a bitcoin mining council “to standardise energy reporting”.

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    Original URL: https://www.afr.com/markets/currencies/musk-jolts-bitcoin-higher-with-push-to-burnish-miners-image-20210525-p57uus