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.

TickerSecurityLastChangeChange %
TSLATESLA, INC.675.50-6.72-0.98%

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

TickerSecurityLastChangeChange %
GMGENERAL MOTORS CO.51.12+0.43+0.85%
TWTRTWITTER, INC.77.06+2.47+3.31%

While other companies including General Motors and Twitter, have not followed suit, executives noted they were watching the developments.

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