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June 14, 2021, 10:10 a.m. EDT

Bitcoin price jumps over 12% to roughly 3-week high to trade above $40,000

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By Mark DeCambre

The world’s No. 1 crypto, and prices of digital assets more broadly, were headed higher on Monday

At last check, bitcoin prices /zigman2/quotes/31322028/realtime BTCUSD +13.26% had climbed more than 12% and were changing hands around $40,631 on CoinDesk, which would mark the highest level since late May, according to FactSet data.

Gains for the crypto are still far from its mid-April peak near $65,000, but bullish investors view the recent price run-up as constructive and potentially auguring well for bitcoin values in the longer term.

The rally was being partly attributed to comments from Tesla Inc. /zigman2/quotes/203558040/composite TSLA +3.46% CEO Elon Musk, who appeared to acknowledge that the electric-vehicle maker had sold some 10% of its crypto holdings but also said that the company would resume allowing purchases of its products in bitcoin if miners of the digital asset can confirm that they use 50% clean energy.

The moves in crypto come as stocks are under pressure in early trade as investors await a key update on Wednesday from the Federal Reserve about its inflation outlook. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.12% , the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.15% and the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -0.02% were all struggling for altitude but holding near record-closing highs.

Meanwhile, other crypto assets were also climbing in sympathy with bitcoin, perhaps. Ether coins /zigman2/quotes/108573964/realtime ETHUSD +9.56% on the ethereum blockchain were up more than 8%, changing hands at $2,546.22, and meme asset dogecoin /zigman2/quotes/226077044/realtime DOGEUSD +12.85% was up about 7% to trade near 33 cents.

Those assets are also well off their recent peaks hit in May.

/zigman2/quotes/31322028/realtime
US : CoinDesk
39,053.38
+4,572 +13.26%
Volume: 0.00
July 26, 2021 1:20p
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/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 665.66
+22.28 +3.46%
Volume: 14.08M
July 26, 2021 1:20p
P/E Ratio
664.97
Dividend Yield
N/A
Market Cap
$619.79 billion
Rev. per Employee
$445,694
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
35,104.34
+42.79 +0.12%
Volume: 143.83M
July 26, 2021 1:20p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,418.39
+6.60 +0.15%
Volume: 941.90M
July 26, 2021 1:20p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
14,833.70
-3.29 -0.02%
Volume: 2.51M
July 26, 2021 1:20p
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/zigman2/quotes/108573964/realtime
US : Kraken
2,364.02
+206.36 +9.56%
Volume: 151.31M
July 26, 2021 1:20p
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/zigman2/quotes/226077044/realtime
US : Kraken
0.22
+0.03 +12.85%
Volume: 28.81M
July 26, 2021 1:19p
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