The price of the Shiba Inu token rose 300% in the hours following Musk’s tweet.
Asset managers are warning industry giants like Tesla and PayPal that investing in energy-intensive assets like Bitcoin could diminish their popularity among investors.
Goldman Sachs’ Gary Black closed his TSLA position after the company purchased $1.5B in BTC, dodging a 28% crash. Now he’s calling for the company to dump Bitcoin for share buybacks.
U.S. citizens can now purchase Dogecoin from ATMs in 45 of the country’s 50 states.
Tesla stock began to slide in late January, accelerating after the BTC purchase announcement.
Coinbase is emerging as a major player in corporate America’s march toward bitcoin.
More than 70% of financial executives surveyed are closely watching what everyone else is doing with Bitcoin before they decide on investing their companies’ cash reserves in it.
The combined forces of passionate communities with potent tools, and the deepening involvement of institutions, make successful bans less likely.
The growing appetite of institutional investors means companies now hold more than 460,000 BTC, which is 3% of the total supply in circulation.
Tesla’s stock fell 7% following its announcement that it invested $1.5 billion of its cash reserves in the cryptocurrency.