Bitcoin Now Matches Tesla by Market Cap, Flippening in Sight

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Thu, 01/07/2021 - 14:00
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Yuri Molchan
Bitcoin has reached an equal market cap value with Tesla and looks ready to surpass the e-car making giant
Bitcoin Now Matches Tesla by Market Cap, Flippening in Sight
Cover image via stock.adobe.com

According to companiesmarketcap, Bitcoin now has a market cap value equal to that of Tesla: $716 billion.

Bitcoin holds 11th place so far, but it looks like it is about to overcome Tesla and enter the top 10 assets listed by market capitalization.

BTC
Image via companiesmarketcap

Bitcoin has been quickly rallying both in terms of price and market cap, correspondingly breaking above the $700 billion level earlier today.

Related Bitcoin's Potential to Reach $50,000 Increases: Bloomberg's Intelligence Analyst Mike McGlone
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Bitcoin's Potential to Reach $50,000 Increases: Bloomberg's Intelligence Analyst Mike McGlone

Earlier, Bitcoin hater Peter Schiff referred to Tesla and Bitcoin as gambling tools. He stated that these assets showed immense growth in 2020: Bitcoin surged almost 4x and Tesla rose 7x, while his beloved assetgolddemonstrated a "modest 24 percent rise."

Earlier today, the flagship cryptocurrency broke above the $38,000 level, reaching another all-time high. The previous one was taken on Jan. 6 as Bitcoin broke through $36,000.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.