Elon Musk also said that Tesla sold about 10 percent of its Bitcoin holdings to confirm that the cryptocurrency could be liquidated easily without moving the market.
The price of Bitcoin jumped to more than $39,400 on Monday after the Tweet.
It bears mentioning that Tesla started accepting Bitcoin for transactions for its electric vehicles in late March. However, the company announced in May that it will no longer use the cryptocurrency as a form of payment.
Elon Musk said that cryptocurrency has a great future, but it cannot be at a great cost to the environment.