This is the third time in 2021 that Musk has made an announcement about Tesla accepting (or not accepting) Bitcoin. Each time, it has made an impact on the leading cryptocurrency's price.

Bitcoin's latest price jump

Musk's tweet yesterday appeared to have an almost-immediate effect on the price of Bitcoin. Within a few hours, the price had gone up over $1,500. By the end of the day, it had increased nearly 10% -- starting at about $35,500 and reaching over $39,000.

It has continued to do well today, as it has spent some time above $40,000. That's still a far cry from the all-time high of nearly $65,000 it reached in April, but it's a good sign that Bitcoin may have bounced back.

Another good sign is that all the other top cryptocurrencies have benefited from Bitcoin's rise. Almost all the coins in the top 25 have increased in price over the last 24 hours. The only exceptions are stablecoins, and those don't fluctuate much because they're tied to a specific asset to keep the price stable.

Can Bitcoin become more environmentally friendly?

Although Musk opened up the possibility of Tesla resuming Bitcoin transactions, it came with the condition of around 50% clean energy usage by miners. That's a difficult goal for the most energy-intensive cryptocurrency.