Bitcoin and Ethereum Price Prediction as Tesla Still Holds $380 Million BTC and Another ETH ETF Gets Delayed
In the ever-evolving landscape of cryptocurrency, Bitcoin (BTC) has recently reversed its downward trend, surpassing the significant $41,000 mark. This resurgence not only bolsters confidence in Bitcoin but also paves the way for other major cryptocurrencies like Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC), all of which have witnessed modest gains.
The overall crypto market cap now stands at an impressive $1.56 trillion, marking over 0.30% increase in the last 24 hours. This positive momentum in the crypto world is partly attributed to the burgeoning interest in Bitcoin ETFs, a development that underscores the cryptocurrency’s growing acceptance in mainstream finance.
Concurrently, Tesla’s unwavering hold on $380 million worth of Bitcoin through Q4 2023 plays a critical role in shaping market sentiment, while the SEC’s postponement of Grayscale and BlackRock’s Ethereum ETFs introduces a layer of uncertainty in the ETH market.
In Q4 2023, Tesla’s Bitcoin (BTC) holdings remained steady, as indicated in their recent earnings report released on Wednesday. The report didn’t mention any Bitcoin transactions, suggesting no buying or selling during the quarter.
Currently valued at $387 million, Tesla owns approximately 9,720 BTC, ranking as the third-largest public holder after MicroStrategy and Marathon. Tesla initially invested $1.5 billion in Bitcoin in February 2021, acquiring around 43,000 BTC.
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