Elon Musk brings some joy to bitcoin hodlers, but will it last?

© Liesa Johannssen-Koppitz/Bloomberg via Getty Images
Elon Musk, known in some circles as the “Fed” of the crypto world, has helped bitcoin recover some of its losses by tweeting that he held talks with bitcoin miners on improving the sustainability of the digital coin. 
The bellwether cryptocurrency is trading 3% higher today, just below $38,000, adding to a 12% gain overnight after Musk’s tweet on Tuesday, where he said: “Spoke with North American bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW [worldwide] to do so. Potentially promising.”
Last week, Tesla’s chief executive sprung a nasty surprise on bitcoin hodlers when he said his company Tesla will no longer accept bitcoin as a form of payment, a decision he claims was prompted by environmental concerns of the cryptocurrency’s high energy usage. The decision had stunned the crypto world as Musk gave bitcoin a mega endorsement back in February when he announced that Tesla had purchased $1.5bn worth of bitcoin. 

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