- After a 9% fall, Bitcoin returned to $40,000 on Jan. 8 and has since gone on to reach a new all-time high as another price consolidation period ended.
- Bitcoin most notably beat the market cap of Chinese giant Tencent, topping out at $745 billion, and briefly passed “darling” tech firm Tesla as it rose to $41,000 per coin.
- At the same time, Tesla delivered a swift 7.3% daily gain, allowing it to outpace Bitcoin once again after losing its market cap prowess to the leading cryptocurrency for a short period.
- A more decisive victory came over Tencent, however, which at $716 billion firmly bowed to Bitcoin’s momentum. Previously, Tencent was also worth more than Tesla.
- Tesla had likewise outperformed against stocks and cryptocurrency in 2020, beating even Bitcoin’s performance versus its March lows.
- A look at the Tencent stock growth, meanwhile, underscores the slow pace of gains which characterized other stocks compared to Bitcoin.
- Read the full story here.
0 Comments
Matt Borelli
Matt Borelli is a staff writer at CoinChapter, covering the daily developments in the cryptocurrency world. He is a Bitcoin enthusiast and proud Dogecoin holder. When not reporting on the latest cryptocurrency news, Matt can be found at the nearest baseball stadium.
No time to read? Crypto articles too technical? Only want the facts?