The gains came as Bitcoin jumped more than 15% on Thursday.
Musk on Wednesday released a statement saying Tesla will no longer accept Bitcoin to buy vehicles.
Posting to his personal Twitter account, he wrote: “Tesla has suspended the purchase of vehicles using Bitcoin.
“We are concerned about the rapid increase in the use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.”
Within minutes, Bitcoin began to plummet, as much of the cryptocurrency's recent growth was based on speculation of its future as a legitimate currency based on Tesla's decision to accept payments.
However, Musk insisted he was still “very confident in crypto”.
“To be clear, I really believe in crypto, but it can't drive massive increases in the use of fossil fuels, especially coal,”
