Bitcoin price stablizes following 5% drop

Microstrategy CEO loads up on Bitcoin amid sharp decline

Michael Saylor and Defiance ETF CIO Sylvia Jablonski discuss the crypto space on ‘Making Money with Charles Payne’

Bitcoin was trading lower by 0.3% on Friday morning.

The price was around $33,330 per coin, while rivals Ethereum and Dogecoin were trading around $2,061 and 24 cents per coin, respectively, according to Coindesk.

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The move by Bitcoin is a rebound from the 5% drop late Thursday afternoon when the crytopcurrency traded around $33,226.

Dogecoin's valuation picked by some ground Thursday after Elon Musk issued aslew of tongue-in-cheek tweets about the cryptocurrency.  

MUSK GIVES DOGECOIN PRICE BOOST WITH LATEST GODFATHER-INSPIRED TWEET

Dogecoin rose to a morning high of $0.257, according to prices tracked by Coin Desk and has settled back to $0.24 Friday morning.

In other Cryptocurrency news, the Blockchain Mining Council (BMC), says the crypto mining industry’s reliance on a sustainable energy mix is looking better. In fact its looking greener.

The BMC issued a statement saying the global industry’s sustainable electricity mix had grown to 56% during the second quarter, based on its "first-ever voluntary survey."

The BMC identifies itself as a voluntary global forum of Bitcoin mining companies and others in the industry.

This made cryptocurrency mining "one of the most sustainable industries globally," the council said in its statement which was reported by Coindesk.

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The survey focused on the mining industry’s electricity consumption and sustainable power mix.

The council was established in May with support from the industry’s U.S. crypto mining companies, Microstrategy CEO Michael Saylor and Tesla CEO Elon Musk.

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