Bitcoin, the world’s largest digital token, jumped as much as 3.6% to $68,513, while Ether posted a more modest advance to about $4,840.
Trying to work out why virtual currencies are rallying is often a fraught task, but some theories pointed to the appetite for assets that can deliver returns even as the pandemic recovery stokes inflation.
Record-low real yields may also be stoking an appetite for riskier investments, potentially pushing some markets to perilous levels.
Michael Saylor, the chief executive at MicroStrategy Inc, mentioned the claimed benefits of Bitcoin in a reply to Musk’s poll tweet.
The little more than decade-old market for digital assets has roughly quadrupled from its 2020 year-end value.