🌙 Bitcoin Outperforms Tesla

For the first time since 2019, Bitcoin has outperformed Tesla stock, indicating a significant shift in investor sentiment towards cryptocurrencies.

Author

Mike Gavela
April 23, 2024

Crypto Roundup - Apr 23

The recent developments in the cryptocurrency and investment sectors highlight significant moves by major players. Bitcoin's performance has surpassed Tesla's stock for the first time since 2019, a milestone that reflects growing investor confidence in digital currencies over traditional tech stocks. Meanwhile, Jack Dorsey's Block is set to develop a comprehensive Bitcoin mining system, aiming to enhance the efficiency and accessibility of mining activities. Additionally, Fidelity's Bitcoin ETF attracted a remarkable $40 million in investments, the largest from financial advisers, signaling a strong interest and growing legitimacy of Bitcoin investments among traditional financial entities.

Top Stories:

  • Bitcoin surpasses Tesla: For the first time since 2019, Bitcoin has outperformed Tesla stock, indicating a significant shift in investor sentiment towards cryptocurrencies.

  • Jack Dorsey's new venture: Block, led by Jack Dorsey, announces the development of a new Bitcoin mining system aimed at revolutionizing the mining sector.

  • Fidelity's Bitcoin ETF draws $40M: Marking a record investment, Fidelity’s Bitcoin ETF attracts $40 million from major financial advisers, reflecting growing mainstream acceptance.

TOP STORIES

Bitcoin outperforms Tesla stock for the first time since 2019

Holding BTC has become more profitable than Tesla stock in returns over the past five years.

cointelegraph.com/news/bitcoin-outpeforms-tesla-stock-first-time-since-2019

Jack Dorsey’s Block announces development of ‘full Bitcoin mining system’

The development of a three-nanometer chip led Block to call for feedback from crypto miners as the firm planned to launch a Bitcoin mining system.

cointelegraph.com/news/jack-dorsey-block-bitcoin-mining-system

Fidelity’s Bitcoin ETF draws $40M in largest single investment from advisers

Fidelity’s Wise Origin Bitcoin Fund attracted $40 million from Legacy Wealth Management and United Capital Management during the first quarter of 2024.

cointelegraph.com/news/fidelity-bitcoin-etf-draws-40-million-largest-single-investment-advisers

FUNDRAISES

OTHER HEADLINES

Tether vows to freeze assets after Venezuela looks to crypto to bypass oil sanctions

USDT-issuer Tether says it will block payments made to OFAC-sanctioned entities after Venezuela’s state-run oil company said it increasingly used USDT.

cointelegraph.com/news/tether-freeze-usdt-venezuela-oil-sanctions

Ripple Says $10M Penalty Enough, Rejects SEC’s Ask of $1.95B Fine in Final Judgment

The court had found Ripple violated federal securities laws by making institutional sales of XRP but dismissed other allegations brought by the SEC.

www.coindesk.com/policy/2024/04/23/ripple-says-10m-penalty-enough-rejects-secs-ask-of-195b-fine-in-final-judgment

Do Kwon, Terraform Labs Should Get $5.3B Fine, SEC Tells Court

The massive sum is a “conservative measure” of Terraform Labs and Do Kwon’s ill-gotten gains, according to the SEC.

www.coindesk.com/policy/2024/04/23/do-kwon-terraform-labs-should-get-53b-fine-sec-tells-court

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