Following the recent uptrend, Bitcoin has now become the world’s 8th Most Valuable Asset after surpassing Tesla’s market capitalization of $1.227 trillion. Bitcoin has recently surpassed Facebook in terms of market cap and now eyes Silver, which stands at $1.364 trillion.
In addition, the total cryptocurrency market capitalization has reached a record breaking $3 trillion, outperforming tech giants such as Microsoft and Apple. The emerging industry has now put itself behind Gold, which currently stands at $11.531 trillion.
Tesla’s stock holdings declined by 7% on the NASDAQ premarket after Elon Musk asked in a Twitter poll if he should sell 10% of his stock holding following accusations of tax evasion. The Twitter poll resulted in 57.9% of users voting in favour of the move.
Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.
Do you support this?
— Lorde Edge (@elonmusk) November 6, 2021
On the other hand, Bitcoin saw an uptrend on Monday, surpassing $66,000 for the first time in the week. At press time, it was trading at $65,510.63 with a total market value of $1.24 trillion.