With a market value of $ 809 billion, Bitcoin surpassed Facebook and became the 8th most valuable asset in the world. Tesla is right in front of BTC.
Bitcoin rises to 8th place, very close to Tesla
Tesla CEO Elon Musk announced that Tesla has invested $ 1.5 billion in Bitcoin and is considering accepting BTC as payment for its products, and the BTC price has hit an all-time high today.
Ironically, this move could contribute to BTC becoming a more valuable asset than Tesla itself.
Tesla is only 1.6% higher than Bitcoin and 7th on the list of world assets, with $ 822 billion by market value. On the other hand, Facebook has a value of $ 762 billion, 6% less than Bitcoin.
Institutions continue to suppress the path opened by MicroStrategy
Following Musk’s announcement, BTC has surpassed $ 44,000 today. At the end of last year, MicroStrategy CEO Michael Saylor announced his company’s $ 1 billion investment in Bitcoin and hosted talks for 1,400 businesses on institutional investment in BTC.
Institutional investment from high-profile companies sends a big buy signal to the markets, noting how both retail and institutional investors expect Tesla and MicroStrategy to move higher prices.
Foundations are steadily rising with the increasing adoption of Bitcoin in the mainstream financial and corporate sectors.
When Bitcoin surpassed Bank of America last November, it entered the top 20 assets in the world, and now its targets are higher.