Bitcoin Price Nears US$35,000 Per Coin

The price of Bitcoin cryptocurrency was recorded at US$34,662 per coin on Thursday, June 24, 2021. This value continues an upward trend in recent days after a decline earlier this week.

Meanwhile, the price of Bitcoin has fluctuated over the past month. Its value ranged between US$36,000-39,000 per coin at the beginning of the month, then rose to US$40,000 per coin on June 14-15, 2021. The Bitcoin price has since fallen back to around US$35,000 per coin.

Bitcoin experienced several price surges in the first half of 2021. Its price reached US$57,540 per coin on February 21, 2021, and then increased to US$61,243 per coin on March 13, 2021. Bitcoin's highest value reached US$63,314 on April 15, 2021.

However, the price of Bitcoin also plummeted during the same period. One of the causes was Tesla CEO Elon Musk's announcement that his company would stop accepting Bitcoin as a payment method.

Musk stated that the mining of the cryptocurrency potentially causes environmental damage. According to research from the University of Cambridge, Bitcoin's annual electricity consumption is indeed greater than that of several countries.