Bitcoin's value appears to be recovering from last week's dip, dropping below $30,000 for the first time since January.

At the time of writing, the price is approaching 34,000 dollars (28,887 euros), the highest level in almost two weeks.

The price rallied this week after statements by Tesla CEO Elon Musk during the online bitcoin meeting B Word.

Musk stated that Tesla still plans to embrace the digital currency as a means of payment again as soon as its extraction is less harmful to the environment.

He said he saw a lot of progress in that area.

In March, it became possible for the first time to purchase a Tesla with bitcoins.

At the beginning of May, that payment option was removed.

"Cryptocurrency is a good idea in many aspects and we do see a future for it. But it should not be at the expense of the environment," Musk said at the time.

The bitcoin coin works on the basis of the blockchain, a kind of collective log in which all participants together keep track of all transactions.

That register is supplemented every ten minutes with a new 'page' with the latest changes.

To safely handle each addition, a complex mathematical formula must be solved.

Worldwide, special computer systems are puzzling on them all day long.

That is called mining or mining.

Whoever solves the formula will be rewarded in bitcoin.

This costs a lot of energy, resulting in enormous CO2 emissions.

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