Crypto stocks jump, Musk leaves door open to using Bitcoin again

Sos

14/06/2021 17:47

(Updates)
    ** Shares of cryptocurrency and blockchain-related firms
surge; Bitcoin  BTC=BTSP  trades up 3.5% at $40,381.92
    ** BTC is ~8.2% higher than levels seen on Friday, helped by
Tesla  TSLA.O  CEO Elon Musk's tweets on Sunday that signaled
Tesla may resume transactions using BTC
    ** "When there's confirmation of reasonable (~50%) clean
energy usage by miners with positive future trend, Tesla will
resume allowing Bitcoin transactions," - Musk tweeted     
    ** Tesla, which Musk said sold ~10% of BTC holdings as
liquidity test, rises 1.2% on Monday
    ** Bitcoin bank Silvergate Capital Corp  SI.N  adds 6.7%;
cryptocurrency miner Riot Blockchain  RIOT.O  and Marathon
Digital Holdings  MARA.O  surge 20.2% and 18.8%, respectively 
    ** China-based Future Fintech Group Inc  FTFT.O  jumps
17.9%, payments company Square Inc  SQ.N  rises 4.9%
    ** MicroStrategy Inc  MSTR.O , a BTC buyer and business
intelligence software firm, jumps 16.2% 
    ** China-focused SOS  SOS.N  rises 12.1%, while crypto
exchange Coinbase Global  COIN.O  adds 6.1%
    ** BTC prices have been affected on multiple occasions this
year by Musk's views on the cryptocurrency
    ** While some market participants believe tight regulation
could limit crypto's growth, others believe improved regulation
would entice new market participants
    ** Improved regulation will address issues around anti-money
laundering concerns and valuation, Todd Cipperman, managing
principal at Cipperman Compliance Services told https://refini.tv/3gekfIP
 the Reuters Global Markets Forum last week 
    ** YTD, BTC has risen ~39%, broadly lifting the market
values of crypto-related stocks with it

 (Reporting by Aaron Saldanha)
 ((Aaron.Saldanha@thomsonreuters.com; +91 9810644993; Reuters
Messaging: Aaron.Saldanha@thomsonreuters.com@reuters.net))