In this file photo Tesla CEO Elon Musk gestures as he arrives to visit the construction site of the future US electric car giant Tesla, on September 03, 2020 in Grünheide near Berlin. – With his social media prognostications about Bitcoin or GameStop, Elon Musk has been venturing further away from his own businesses and becoming more like a Wall Street heavyweight who can move markets with just a few words.
Meanwhile, the benchmark oil contract Brent North Sea rose above $60 per barrel to hit the highest level since the coronavirus pandemic began to spread globally almost a year ago.x“This is probably one of the biggest developments for the cryptocurrency industry,” noted Fawad Razaqzada, analyst at ThinkMarkets.
Tesla’s announcement, in a US Securities and Exchange Commission document, is a sign of confidence in the cryptocurrency that regulators are concerned could be used for illegal transactions. The climb in Brent above $60 has come owing to OPEC and its allies cutting output after the coronavirus pandemic slashed demand, according to analysts.“It is worth reminding oneself that OPEC+ is the single most important reason for why the oil price reached $60” on Monday, noted Bjarne Schieldrop, chief commodities analyst at SEB Research.Brent crude hit $60.27 per barrel on Monday, the first time it has exceeded $60 since February 2020.