---
title: "Bitcoin Price Suddenly Shoots Up"
description: "Bitcoin's value shot up above $39,000 for the first time in almost six weeks, a jump of almost 12 percent within the last 24 hours, according to CoinDesk."
date: "2021-07-26"
modified: "2021-07-26"
authors:
  - name: "Victor Tangermann"
    job_title: "Senior Editor"
    link: "https://futurism.com/authors/victor"
url: "https://futurism.com/the-byte/bitcoin-price-suddenly-shoots-up"
categories:
  - "Bitcoin"
  - "Blockchain"
  - "Cryptocurrency"
  - "Future Society"
tags:
  - "Amazon"
  - "bitcoin"
  - "elon musk"
  - "the digest"
---

# Bitcoin Price Suddenly Shoots Up

![Bitcoin's value shot up above $39,000 for the first time in almost six weeks, a jump of almost 12 percent within the last 24 hours, according to CoinDesk.](<https://futurism.com/wp-content/uploads/2021/07/bitcoin-price-suddenly-shoots-up.jpg>)
*\<em\>Image: \<a href="https://www.flickr.com/photos/91261194@N06/50929253883" target="\_blank"\>Jernej Furman via Flickr\</a\>\</em\>*

## Bitcoin's Back

Is Bitcoin's slide into oblivion finally over?

The cryptocurrency's value shot up above $39,000 last night, [according to CoinDesk](<https://www.coindesk.com/price/bitcoin>) — a jump of almost 12 percent within the last 24 hours, and just the latest tailspin of drama for the unpredictable digital money.

Fueling Bitcoin's rise from the dead was speculation that Amazon is getting into the crypto space, [*CNBC* reports](<https://www.cnbc.com/2021/07/26/bitcoin-btc-price-tops-39000-for-the-first-time-in-nearly-6-weeks.html>). News emerged that the retail giant [is hiring](<https://www.amazon.jobs/en/jobs/1644513/digital-currency-and-blockchain-product-lead>) a digital currency and blockchain product lead late last week, suggesting that the company could soon be making moves into the industry — or perhaps even start accepting cryptocurrencies from online customers.

To be clear, it's a single job posting, and Amazon has not announced any plans to move into the crypto space. A spokesperson, however, told *CNBC* that the company is "inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon."

## Boom and Bust

And then there was the fact that Tesla CEO Elon Musk [hinted](<https://futurism.com/elon-musk-tesla-bitcoin-again>) at a blockchain conference last week that Tesla might start accepting Bitcoin again for car payments, after [reversing similar plans](<https://futurism.com/the-byte/elon-musk-tesla-suspending-bitcoin>) back in May. Musk also [revealed that SpaceX](<https://futurism.com/the-byte/elon-musk-spacex-bitcoin>), not just Tesla, is hoarding Bitcoin.

Bitcoin — and most other cryptocurrencies like it — have often gone through massive boom and bust cycles, of which this year's is only the latest.

The cryptocurrency has [had a terrible year](<https://futurism.com/the-byte/bitcoin-crashes-below-30000-again>) even by its own chaotic standards, though, with China [announcing a crackdown](<https://futurism.com/china-crackdown-cryptocurrency-mining>) on all cryptocurrency mining activities within its borders. Experts believe that crackdown could eventually turn into an outright ban, [according to *Bloomberg*](<https://www.bloomberg.com/news/articles/2021-07-25/early-crypto-mogul-says-china-crackdown-may-lead-to-outright-ban?sref=YfHlo0rL>).

Whether that could dampen Bitcoin's resurgence this week is anybody's guess. Crypto investment, needless to say, is a high-risk game.

**READ MORE:** [Bitcoin tops $39,000 for the first time in nearly 6 weeks](<https://www.cnbc.com/2021/07/26/bitcoin-btc-price-tops-39000-for-the-first-time-in-nearly-6-weeks.html>) \[*CNBC*\]

**More on Bitcoin:** *[Elon Says SpaceX is Also Hoarding Bitcoin, Not Just Tesla](<https://futurism.com/the-byte/elon-musk-spacex-bitcoin>)*

## Author
I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida.

### Author social links  
[Bluesky](<https://bsky.app/profile/vtanger.bsky.social>)