Around $500 million worth of positions were liquidated within hours as the Tesla news caused Bitcoin to spike over $46,000.
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Around $500 million worth of positions were liquidated within hours as the Tesla news caused Bitcoin to spike over $46,000.
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Breaking down Tesla’s Bitcoin purchase reveals the emergence of a new corporate whale.
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As usual, when Bitcoin pumps and traders need stable exchanges more than ever, some are almost guaranteed to go down.
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The crypto asset overtook Tesla Motors in market capitalization following an announcement that the car manufacturer had invested in Bitcoin.
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Tesla is now able to hold Bitcoin in reserves, thus accepting Bitcoin as payment for its cars without necessarily converting it.
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If researchers are correct, cryptocurrency holders should hope that Elon Musk doesn’t get bored of Bitcoin anytime soon.
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Tim Draper, the billionaire Bitcoin investor who is also an early investor in Tesla, reacted to Elon Musk’s Bitcoin moment.
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Alexis Ohanian is the latest social media and tech personality to update his Twitter bio to read “#Bitcoin.”
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