Bitcoin's value tops $1T for first time
Bitcoin's yearly gain is 82%
KRBE digital assets group co-founder Isaiah Jackson and Anchorage co-founder and president Diogo Monica discuss the future of cryptocurrency.
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. | 242.84 | -6.14 | -2.47% |
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. | 51.80 | +0.84 | +1.65% |
| TWTR | NO DATA AVAILABLE | - | - | - |
While other companies including General Motors and Twitter, have not followed suit, executives noted they were watching the developments.