Bitcoin (BTC), the leading cryptocurrency, has become the 8th most valuable asset in the world, behind Facebook with a market value of $ 809 billion. There is Tesla in front of Bitcoin.
Bitcoin Getting More Valuable
Today, Tesla CEO Elon Musk said in a statement that they bought $ 1.5 billion worth of Bitcoin for Tesla and that they are thinking of paying and selling with Bitcoin. After the purchase announcement, Bitcoin saw its all-time high.
This move can contribute to the irony of Bitcoin becoming a more valuable asset than Tesla.
Tesla, with a market value of $ 822 billion, is about 1.6% higher than Bitcoin, which is in the 8th place on the world valuable assets list, and is in the 7th place. Facebook, on the other hand, is worth $ 762 billion, 6% lower than Bitcoin.
After the news that Tesla invested in Bitcoin, Bitcoin has risen above the $ 44,000 level today. Late last year, MicroStrategy CEO Michael Saylor announced that his company has invested $ 1 billion in Bitcoin, and has been hosting talks for 1,400 businesses about investing in Bitcoin from an institutional perspective.
Institutional investment from strong companies is sending a buy signal to the markets, noting how both retail and institutional investors are following the higher price action of Tesla and MicroStrategy.
Mainly with these developments, it steadily increases the adoption of Bitcoin in mainstream financial and corporate sectors.