As a result of the recent price surge, Bitcoin has now surpassed Facebook's parent company Meta to become the world's ninth most valuable asset by market capitalization. Gold is the undisputed number one asset, with a market value of $11.4 trillion, followed by Apple, which has a market capitalization of $2.8 trillion. For much of last year, Bitcoin had a market cap of over $1 trillion, which was a significant achievement.
The king cryptocurrency, which had been stabilizing for all of last week, soared to a three-week high today, rising up to 3% as of writing. Click the link to learn more. https://tinyurl.com/4rmacbkp
During Monday’s session, BTC/USD hit an intraday high of $44,000.00, as markets reacted to reports that Tesla now owns $1.9 billion in bitcoin.
Bitcoin made the move after breaking through a barrier level of $42,060 for the first time since January 21.
Tesla Holding Taps $2 Billion
The EV maker announced that the fair market value of its bitcoin assets as of the end of 2021 was $1.99 billion in its recently filed Form 10-K to the US Securities and Exchange Commission. During the first quarter of 2021, Tesla made a $1.5 billion investment in bitcoin.
Bitcoin is a digital asset, which means it is notoriously volatile. Tesla clearly felt this throughout 2021, as the company reported $101 million in impairment losses related to the digital asset’s value last year. In March 2021, the corporation made a $128 million profit on bitcoin sales after selling a portion of its holdings. Click the link to learn more. https://tinyurl.com/4rmacbkp
