The Crypto News Roundup: February 24, 2021
It’s already the end of February’s latest news round-up! Remember when Bitcoin hits $51.3K after an analyst, Peter Brandt, declared a “historic” parabolic advance? There’s no stopping for Bitcoin now. Another analyst said that Tesla has cashed in $1 Billion from its Bitcoin investment. Followed by Motley Fool announcing its investment in Bitcoin worth $5 million.
What a month full of Bitcoin news for new investments involving huge companies! While we can’t get enough of Bitcoin updates, Ethereum is surpassing secular companies like Novartis and AT&T wherein ETH broke the $200 billion market cap mark. There’s also the Ripple and SEC’s pretrial over the XRP cryptocurrency where we are looking forward to its result.
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Tesla Has Cashed in Profits from Its Bitcoin Investment
After Tesla’s bitcoin investment, it has already reaped what it has sown. An analyst from Wedbush Securities, Daniel Ives, said that Tesla went to the bank cashing in approximately $1 billion from its investment in Bitcoin. Tesla also mentioned the possibility of accepting payments in exchange for its products. Read more
Ripple and The SEC’s Pretrial Over XRP Cryptocurrency
It has been all over the headlines about SEC suing Ripple for unlawful sales of XRP. The SEC’s Former Chair, Mary Jo White, expressed her opinion about this saying that the agency is “dead wrong” in suing Ripple. The community is looking forward to the results of the pretrial hearing. Read more
Motley Fool Will Invest $5 Million Worth of Bitcoin
A giant in financial and investment advisory, The Motley Fool, will invest in bitcoin worth $5 million through its 10X portfolio. They have highlighted the 3 reasons why they chose to invest in bitcoin: Bitcoin is a better store of value than gold, it’s an effective hedge against inflation and it has the potential to become a transactional asset. Read more
Bitcoin Hits A New High of $51.3K
As the analyst Peter Brandt, declared parabolic advance, Bitcoin smashed through a new high of $51K. He added that if the advance is violated, a correction of 80% is “most common” as a bearish consequence. Read more
Ethereum Broke The $200 Billion Market Cap Mark
The market capitalization of ETH soared above $200 billion which surpassed Novartis, AT&T, and Cisco. This was caused by Ethereum being at 150% in 2021. Meanwhile, when valuing a cryptocurrency with multiple use cases, there is no single metric to gauge its potential. Read more
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