Bitcoin Breaks Even Again…. 100K!!!!
Welcome again, Gang 🖖
Let’s save the rest of the intro because our favorite coin keeps giving us that Nostalgic Prime FC Barcelona feeling 😂
But what is 3 Points every week compared to Bitcoin smashing through barriers and reaching new historic price gains like it’s nothing?............... 100K wake me up when it is over!
Of course, there are always the losers, and this time we can’t help but feel bad for Tesla. But with Bitcoin coming through, I doubt we’re lacking enough joy to feel bad right now
Here are the Highlights:
- Bitcoin price hits $100K for first time in history
- Elon Musk’s Tesla missed out on $3 billion by selling Bitcoin at $31k
- TRON ($TRX) Hits New All-Time High, Market Cap Over $20 Billion
- Tether Mints 19 Billion USDT in a Month, Crypto Markets on Alert
Bitcoin price hits $100K for first time in history
The price of Bitcoin reached $100,000 for the first time in history, marking a milestone for the cryptocurrency market after a year of significant growth. Bitcoin hit the $100,000 price mark on Dec. 5, breaking a psychological level just weeks after reaching the $90,000 milestone on Nov. 12, according to TradingView. Bitcoin also set a new all-time high of $104,000 at 3:08 am UTC — roughly 90 minutes after surpassing the $100,000 mark. The year has seen more than $31 billion in net inflows from the spot Bitcoin exchange-traded funds in the United States, along with tightened supply from Bitcoin’s fourth halving in April.
Elon Musk’s Tesla missed out on $3 billion by selling Bitcoin at $31k
While Bitcoin surpassing $100,000 today, increased the value of Tesla’s remaining crypto holdings to over $1 billion, Tesla initially invested $1.5 billion in Bitcoin in early 2021 at an average price of $38,000 per coin. This purchase amounted to approximately 39,474 BTC. In July 2022, Tesla sold 75% of its Bitcoin holdings, reducing its total to about 9,868 BTC. With Bitcoin now at $102,000, Tesla’s remaining holdings are valued at approximately $1 billion. Had the company retained its entire initial investment, the value would have exceeded $4 billion.
TRON ($TRX) Hits New All-Time High, Market Cap Over $20 Billion
TRON ($TRX) has reached new all-time highs. The cryptocurrency’s market capitalization surged past $20 billion, setting a new record. This milestone was reported by Lookonchain. The price of $TRX rose to its record high of $0.2349. TRON( $TRX )Hits New All-Time Highs!$TRX's market cap surged past $20 billion today, setting a new ATH!The price of $TRX reached an ATH of $0.2349!The recent rise in the value of TRON has also been realized at a time when the market for cryptocurrencies is enjoying a boost. There is much positivity from the investors towards $TRX hence the exponential growth.
Tether Mints 19 Billion USDT in a Month, Crypto Markets on Alert
Tether minted 19 billion USDT in a month, adding liquidity but sparking debates over transparency and potential systemic risks. Analysts suggest increased USDT supply could stabilize or amplify market volatility, particularly with Bitcoin's high trading volume. Transparency concerns persist, with critics urging robust reserve backing and regulation to ensure stablecoin market confidence. These actions reflect Tether’s dominance in providing liquidity to the crypto market. Nevertheless, it has raised concerns about transparency and systemic risks.
Other Highlights Worth Mentioning
MicroStrategy Bought $2 Billion Bitcoin - Trustinodes
Trump picks former SEC commissioner Paul Atkins to run agency - Reuters
El Salvador to Change Bitcoin Law as Part of New IMF Deal - CoinDesk
Putin says Bitcoin is inevitable, endorses BTC over US dollar as global reserve currency - Cryptoslate