Bitcoin prices are on the verge of recovery of $40,000.
Bitcoin is approaching $40,000 as of 3:20 p.m. on the 14th (GMT+8), recording $39,538.41 on CoinMarketCap.
CITYA.M., a business newspaper in London, said that the reason why Bitcoin is soaring is because Tesla CEO Elon Musk conditionally allows Tesla to purchase Tesla cars with bitcoin, and Tanzania, an African country, is considering introducing bitcoin as a legal currency.
Tanzania’s President Samia Suluhu has reportedly ordered preparations for introducing Bitcoin as a legal currency.
President Hasan recently cited cryptocurrency as the future of Tanzania’s finance and said the central bank should start making necessary preparations, according to the media.
Analysts say that Bitcoin rose on the 9th (local time) with the move of Tanzania following El Salvador, the world’s first Latin American country to recognize Bitcoin as a legal currency.
In addition, Musk’s tweet, which was stigmatized as a Bitcoin market manipulator, also affected Bitcoin’s rise. Musk tweeted on the 13th, “Tesla will resume bitcoin trading if it is confirmed that miners use reasonable clean energy along with positive future trends.”
Along with the news of Tanzania, the media interpreted Musk’s tweet that Bitcoin, which recorded less than $35,000 last weekend, is surpassing $40,000.