Bitcoin's value tops $1T for first time
Bitcoin's yearly gain is 82%
Bitcoin’s total market value, based on supply, has hit $1 trillion for the first time, as tracked by CoinMarketCap.com.
Any level above the current price of $55,000+ will keep the currency at this milestone, according to Dow Jones Market Data Group.
Courtesy: Coindesk
So far this year the currency has gained over 82% as more institutions and corporations take a stake in the cryptocurrency, making the once speculative investment, less so.
TESLA BUYS $1.5B IN BITCOIN, WILL START ACCEPTING FOR CARS
Last month, Tesla wowed the investment community, with a $1.5 billion purchase of bitcoin to “further diversify and maximize” the return on its cash. Tesla ended 2020 with $19.38 billion in cash and cash equivalents, as noted in an SEC filing. It also noted it may soon accept bitcoin as payment for its cars.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
TSLA | TESLA INC. | 357.09 | +11.93 | +3.46% |
Additionally, Tesla said it may invest more of its cash in digital assets, gold bullion, gold exchange-traded funds and other assets.
BITCOIN RUSH? WHY CEOS MAY NOT FOLLOW TESLA
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
GM | GENERAL MOTORS CO. | 55.59 | +0.09 | +0.16% |
TWTR | NO DATA AVAILABLE | - | - | - |
While other companies including General Motors and Twitter, have not followed suit, executives noted they were watching the developments.
CLICK HERE TO READ MORE ON FOX BUSINESS