EQOS - Why Shares of Diginex Are Rising Today
Shares of Hong Kong-based cryptocurrency company Diginex (NASDAQ: EQOS) popped by as much as 18% at one point Monday morning for no obvious reason other than a couple of pieces of positive news for the broader crypto space.
After weeks of extreme volatility and an overall sharp drop in prices, cryptocurrencies got some good news Monday when Elon Musk announced that Tesla (NASDAQ: TSLA) would start accepting Bitcoin (CRYPTO: BTC) again -- once the large operators who mine the tokens prove that they are shifting to greater use of clean energy sources.
In February, Tesla purchased $1.5 billion worth of Bitcoin and said it would begin accepting the digital currency as payment for its electric vehicles. But Musk reversed course on that in May due to his concerns about the high electricity costs of mining Bitcoin, and the fact that those mining operations have largely been powered by heavily carbon-emitting energy sources such as coal.
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Why Shares of Diginex Are Rising Today