Facebook stock saw a drop of 8% this week, while Tesla’s shares dropped by 6%. These types of drops are not uncommon for these companies. However, when Bitcoin stocks rose by 36%, the comparison became more relevant. With bitcoin being so volatile it is hard to predict its future but experts say virtual currencies should be considered in the same way as traditional investments.,
Cryptocurrency is on the move, and it’s starting to make some serious waves. As bitcoin continues to surge past $7000 per coin, more people are changing their views on the digital asset that values privacy over centralization. However, with this rise comes new questions about what cryptocurrencies are capable of achieving in terms of displacing traditional consumer goods giants like Tesla or Facebook
The “amazon bitcoin rumor” is a cryptocurrency that has been gaining traction lately. It was first introduced in December and the price of one Bitcoin has risen from $1,000 to $14,000 since then.
Bitcoin has eclipsed the entire market worth of both automotive maker Tesla and social media behemoth Facebook after surging past $66,000 today and hitting a market capitalization of more than $1.2 trillion.
Bitcoin (BTC) is currently the sixth most valuable asset by market value among big firms, after Microsoft, Apple, Google’s parent company Alphabet, Saudi Aramco, and Amazon, according to statistics from AssetDash. As its price remains at $66,000 and within striking distance of its all-time high of $67,000, the crypto asset has overtaken Tesla’s and Facebook’s market values of $1.19 trillion and $975 billion, respectively.
Bitcoin’s market capitalization is now within $600 billion of Amazon’s. Tesla CEO Elon Musk’s recent declaration that he wanted to sell 10% of his Tesla shares may have contributed to BTC volatility over the weekend, when the crypto asset soared more than 4% in less than two hours, from $62,941 to $65,512.
Bitcoin’s market capitalization was already more than the sum of numerous fiat currencies. The crypto currency depreciated against the Russian ruble in February, most likely as a result of Tesla’s announcement that it had acquired $1.5 billion in BTC. In October, Bitcoin’s market capitalization momentarily surpassed that of the Swiss franc.
Can Ethereum Overtake Bitcoin in the Great Crypto Flippening?
Ether (ETH) rose beyond $4,700 for the first time in the token’s existence, giving it a market value of more than $565 billion, more than $400 billion ahead of the third-placed cryptocurrency Binance Coin (BNB). The two assets’ growth have pushed the overall crypto market worth to well than $3 trillion.
The “amazon and dogecoin” is a cryptocurrency that has been on the rise in recent months. In December, Bitcoin surpassed Tesla as the most valuable company in the world. This trend could continue with Amazon being next.
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