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As predictions emerge that Tesla is set to make more bitcoin than profits from selling its electric cars in 2020, a new study has found that there are now more than 100,000 bitcoin addresses holding over a million dollars each

As predictions emerge that Tesla is set to make more bitcoin than profits from selling its electric cars in 2020, a new study has found that there are now more than 100,000 bitcoin addresses holding over a million dollars each

Wedbush Securities estimated that Tesla is expected to make around US $ 1 billion from its bitcoin investments, with the cryptocurrency falling slightly to US $ 54,200

But according to a new report from Finbold, Elon Musk is not the only one profiting from the popularity of bitcoin, with at least 109,952 addresses each of which are said to have a bitcoin balance greater than US $ 1 million as of February 22

About 9,200 of these addresses each have a balance of $ 10 million, while the remaining 100,752 addresses have a balance of $ 1 million each.

As more institutions amass the digital asset, the currency hit a record high above $ 58,000 on February 21, hitting a market cap of $ 1 trillion

The rise of digital currency eclipsed its bull run of 2017 when the crypto asset rose to over US $ 20,000, before losing 65% of its value over the next 12 months

The second largest coin, ethereum, also saw a new all-time high price, breaking US $ 2,000 for the first time and giving it a total value of $ 226 billion

In total, after a good week in the crypto markets, crypto assets are approaching $ 2 trillion in market cap

eToro crypto asset analyst Simon Peters said the past few weeks have been a ‘turning point’ for crypto assets, with large US companies such as Tesla, Mastercard and BNY Mellon lending their backing to the asset class

“For investors this is an exciting time, especially for long-term speculators who will have seen a 60% increase this month,” he said

“There are warning signs of a market correction on the horizon, but in the meantime there does not appear to be a stopping of bitcoin’s upward trajectory”

Second-largest cryptocurrency Ethereum’s latest run saw it hit new high, analyst says high is ‘just the start’
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While some investors feel uncomfortable after bitcoin more than doubled in value in less than a month, others predict it could reach US $ 100,000 per coin in the next few months. month
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Australian watchmaker Jacopo Dondi has announced that he is now accepting bitcoin as a means of payment, after welcoming the world’s most popular cryptocurrency as a sign of his willingness to embrace inconvenienceRead More

/ p>

Bitcoin is still as popular as ever, based on analysis of transactions made by crypto investors during the month of August
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Like regular money, cryptocurrencies can be vulnerable to theft, but there are ways to minimize risk, crypto expert says
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Despite being billed as digital gold, cryptocurrency markets have lost billions of dollars during the pandemic, proving they are not immune to the broader swings in the markets of sharing
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Investors will soon be able to transact in physical gold and digital gold tokens quickly, transparently and easily, thanks to a new digital platform
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Consequences of World Lockdown and Unprecedented Central Bank Actions Negatively Impact Crypto Assets, Trader Says
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Second-largest cryptocurrency Ethereum’s latest run saw it hit new high, analyst says high is ‘just the start’
Learn more

While some investors feel uncomfortable after bitcoin more than doubled in value in less than a month, others predict it could reach US $ 100,000 per coin in the next few months. month
Learn more

Australian watchmaker Jacopo Dondi has announced that he is now accepting bitcoin as a means of payment, after welcoming the world’s most popular cryptocurrency as a sign of his willingness to embrace inconvenienceRead More

/ p>

Bitcoin is still as popular as ever, based on analysis of transactions made by crypto investors during the month of August
Learn more

Like regular money, cryptocurrencies can be vulnerable to theft, but there are ways to minimize risk, crypto expert says
Learn more

Despite being billed as digital gold, cryptocurrency markets have lost billions of dollars during the pandemic, proving they are not immune to wider market swings sharing
Learn more

Investors will soon be able to transact in physical gold and digital gold tokens quickly, transparently and easily, thanks to a new digital platform
Learn more

Consequences of World Lockdown and Unprecedented Central Bank Actions Negatively Impact Crypto Assets, Trader Says
Learn more

Bitcoin News

World News – AU – Over 100,000 Bitcoin Addresses Hold Over $ 1 Million Each

Source: https://www.nestegg.com.au/invest-money/cryptocurrency/over-100-000-bitcoin-addresses-hold-over-us1m-each