Photo: Coin Telegraph
(Coin Telegraph) - On Feb 8, Bitcoin price broke out to a new all-time high at $46,794 after documents from Tesla revealed that the company had allocated 7.7% of its gross cash position to Bitcoin. The purchase gives Tesla a sizable $1.5 billion position in the top-ranked digital asset.
Data from Coin Telegraph Markets and Trading View shows Bitcoin is currently up by 18.5% and trading near $46,000.
Meanwhile, the majority of altcoins and decentralised finance (DeFi) tokens have also surged to notch double-digit gains for the day.
While some analysts are speculating on which large company will be the next to jump on the Bitcoin train, Royal Bank of Canada Dominion Securities analyst Paul Steves thinks that Apple will be the next institutional player to join the trend.
According to Steves, if Apple were to launch a crypto exchange or buy Bitcoin, it could lead to an estimated $40 billion in annual revenue.
Bitcoin’s bullish price action came at a crucial time as the digital asset had seen a decline in overall sentiment in recent days as the price struggled to break above the $38,000 level.
Read more from the original article here.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
CFD markets involves substantial risk and there is always the potential for loss. Past performance is not indicative of future results. You understand and agree that there are risks associated with the use of online trading services ( COPYTRADE、FOLLOWTRADE、FOLLOWGUARD ), including uncontrollable factors such as hardware breakdown, software fault, or Internet disconnections. FOLLOWME does not held any responsibility for the communication failures, miss-transmissions or delays that occur during online trading.