The price of ICP is down. While Bitcoin is leading the market correction, the top altcoins including Ethereum (ETH) have also been dragged into the nosediving market.
As for the exact market capitalization, Bitcoin has tanked from over $1 trillion a few weeks ago to around $840 billion.
The recent Bitcoin losses began after Elon Musk shows concern about the coin’s environmental impact.
Elon Musk’s tweets send ripple across the crypto market, with the overall crypto market cap taking a dip under $2 trillion before recovering once again.
There is also a speculation that Elon Musk has been involved in the classic pump and dump scheme of Bitcoin.
The Proof-of-Stake Cardano surged 18% today smashing past $2 for the first time and hitting its new all-time high. Cardano co-founder Charles Hoskinson said it is 1.6 million times more energy-efficient than Bitcoin.
Mike Novogratz acknowledged that his total holdings in crypto now represent as much as 85% of his net worth.
Digital assets currently hosted on the Singapore-based bank’s digital asset exchange are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and XRP.
Users of Samsung Galaxy smartphones can now connect their devices to hardware wallets including the Ledger Nano S and Ledger Nano X.
MicroStrategy filed a Form 8-k with the United States Securities and Exchange Commission regarding the 271 Bitcoin purchase on May 13, 2021.
Despite the significant losses, McGlone believes that BTC is positioned for further price gains.
However, Elon noted that Tesla will not sell the existing Bitcoin investment as they plan to use it once the mining shifts to renewable and greener energy sources.
Assuming that BTC can reach over $1,000,000 by 2030, it’s possible that Bitcoin can reach $10,000,000 if it’s still in its current form and has not been converted into another high-valued asset.
Anthony Scaramucci said he’s willing to wager 500K Satoshis that, within a year, Tesla or Solar City will announce its entry into “super clean” bitcoin mining.
Though initially Tesla was strongly interested in Bitcoin, now the company will look for its “green” alternatives.