Tesla bought Bitcoin and now crypto is worth $1.3T

bitcoin, tesla
McCloud / Shutterstock.com

Bitcoin rallied up to 15% on Monday after news broke that electric vehicle wunderstock Tesla bought $1.5 billion worth of Bitcoin in January.

Tesla’s latest SEC filing also hinted the company expects to start accepting Bitcoin for car purchases in the “near future.”

At its peak, Bitcoin hit $44,777 on Monday — smashing its previous price record set exactly one month ago by nearly 7%.

So far, this is Bitcoin’s second biggest single-day rally for 2021, and its 51st largest ever, according to TradingView’s market data (which starts in 2013).

Bitcoin’s latest surge sent the total value of the cryptocurrency market beyond $1.3 trillion for the very first time, reports TradingView.

Tesla now joins Jack Dorsey’s fintech company Square and Michael Saylor’s MicroStrategy in holding Bitcoin alongside cash in their treasuries.

[Read more: Altcoins in 2021 — the crypto war for third place]

At press time, Bitcoin boasts a market value of $800 billion, representing about 60% of the total crypto market.

Was this article interesting? Share it