bitcoinlfg

Tag: Musks

  • Elon Musk’s Tesla transfers Bitcoin worth $770M to new addresses

    Elon Musk’s Tesla transfers Bitcoin worth $770M to new addresses

    Tesla transfers Bitcoin worth $770M to new addresses
    • Tesla relocated 11,509 bitcoins, valued at $770 million, to new addresses.
    • This marks Tesla’s first Bitcoin transaction since selling most holdings in 2022.
    • Tesla remains the third-largest Bitcoin holder among public companies after MicroStrategy.

    Tesla, the electric vehicle giant led by Elon Musk, has recently relocated its entire Bitcoin (BTC) treasury, consisting of 11,509 bitcoins valued at approximately $770 million, to multiple new addresses.

    This significant move was reported by analytics firm Arkham Research, which tracked the on-chain data associated with the transactions.

    First time Tesla is touching its Bitcoin stockpile

    The transfer of bitcoins marks Tesla’s first interaction with its crypto wallets since 2022 when the company sold off the majority of its holdings.

    The series of transactions occurred within a single hour and was preceded by six test transactions, indicating a strategic approach to the relocation.

    At its peak, Tesla held around 43,000 bitcoins, but according to the latest quarterly report, the company reportedly had about 9,720 BTC, worth roughly $650 million as of October 15.

    Arkham estimates that Tesla still holds 11,509 bitcoins across 68 addresses, reflecting a significant adjustment in its cryptocurrency strategy.

    Tesla’s past dealings with Bitcoin have been noteworthy. In early 2021, the company made headlines with a monumental $1.5 billion investment in the cryptocurrency, followed by the sale of $272 million worth of bitcoin in the first quarter of 2021, resulting in a profit of $128 million.

    By the second quarter of 2022, Tesla sold another $936 million in Bitcoin, garnering $64 million in gains as the market experienced volatility.

    Despite these transactions, the recent move to new addresses raises questions about Tesla’s future plans for its Bitcoin holdings. Industry speculation suggests that the company might be preparing for further sales, although no official statements have clarified the intent behind the recent transfer.

    As of now, Tesla remains the third-largest holder of Bitcoin among publicly traded companies, trailing behind MicroStrategy and Marathon Digital Holdings (MARA).

    Additionally, Musk’s other company, SpaceX, is estimated to hold around 8,285 bitcoins, further emphasizing the significant role cryptocurrency plays in the operations of Musk’s enterprises.

    Notably, Tesla continues to accept BTC payments for vehicle purchases, signalling its ongoing engagement with the cryptocurrency landscape.

    Share this article
    Categories
    Tags

    Source link

  • AI tokens surge following Musk’s X Corp unveiling of xAI shareholding

    AI tokens surge following Musk’s X Corp unveiling of xAI shareholding

    • Musk’s announcement of a 25% stake in xAI for X Corp shareholders, along with Grok chatbot testing, sparks AI token surge.
    • The AI tokens are also responding to the ouster of Sam Altman from OpenAI.
    • Altman is now headed to Microsoft.

    Artificial Intelligence (AI)-focused tokens experienced a significant boost over the weekend, propelled by key developments in the AI sector.

    Traders exhibited strong confidence in the long-term growth potential of these tokens, triggered by notable announcements from industry leaders.

    Elon Musk’s revelation sparks euphoria

    Technology entrepreneur Elon Musk announced that shareholders of X Corp, a conglomerate holding a diverse range of companies, would hold a substantial 25% stake in the newly unveiled AI venture, xAI.

    The excitement surrounding this revelation was amplified as xAI initiated testing for its Grok chatbot, leading to the creation of numerous replica tokens.

    Sam Altman’s ouster from OpenAI

    In a separate development, there were reports that circulated at the beginning of the weekend about the possible return of Sam Altman, founder of OpenAI (developer of ChatGPT), to the company’s board. These reports caused AI cryptocurrencies to surge.

    The AI coins have remained bullish even after confirmation that Altman was headed for Microsoft to lead AI research and will not be coming back to OpenAI. His position at OpenAI has been given to Emmett Shear, the ex-CEO and cofounder of Twitch.

    AI token market witnesses substantial gains

    The AI crypto market responded positively to the above developments, with notable performances across various tokens.

    Bittensor’s TAO recorded a 7.7% increase on Monday, adding to a remarkable 83% rally over the past week.

    Render’s RNDR, Ocean Protocol’s OCEAN, Fetch AI’s FET, and SingularityNet’s AGIX are also bullish and have outperformed major cryptocurrencies like Bitcoin. However, smaller AI cryptocurrencies like Synesis One (SNS), LimeWire (LMWR), and nuco.cloud (NCDT) are leading the AI token bull run with 97%, 56%, and 35% price surges respectively.

    The broader AI token market cap witnessed an impressive 10% surge on Monday compared to the 1.7% increase in the global cryptocurrency market cap

    The recent surge in AI tokens demonstrates the growing prominence of the sector, akin to the impact of gaming applications and decentralized finance (DeFi) tokens in previous market cycles. But, while uncertainties persist, the resilience of AI tokens in the face of corporate developments indicates sustained market interest in the potential of artificial intelligence technologies.

    Share this article
    Categories
    Tags



    Source link

  • DOGECOIN | DOGE Price Soars Following Elon Musk’s Tweet

    DOGECOIN | DOGE Price Soars Following Elon Musk’s Tweet

    Source link

  • Doge and Shib prices soar ahead of Musk’s Twitter purchase

    Doge and Shib prices soar ahead of Musk’s Twitter purchase

    doge ANKARA, TURKIYE - OCTOBER 06: In this photo illustration, Elon Musk's twitter profile is displayed on a mobile phone and the image of him is seen on a computer screen on back of it in Ankara, Turkiye on October 06, 2022. Muhammed Selim Korkutata / Anadolu Agency
    In April, Elon Musk suggested that dogecoin could be used to make payments on Twitter. Photo: Muhammed Selim Korkutata/Anadolu Agency

    Dogecoin (DOGE-USD) and shiba inu (SHIB-USD) soared ahead of the news that Elon Musk may finalise his purchase of Twitter (TWTR) on Friday, which is the deadline for the completion of the $44bn (£37.9bn) acquisition of the company.

    As speculation grows that dogecoin could be used in a new integrated crypto payment system on Twitter, the memecoin and it’s younger sibling, shiba inu, pumped.

    Check: Crypto live prices

    In April, Musk suggested that dogecoin could be used to make payments on Twitter.

    Referring to subscription payments on the platform he stated there could “maybe be an option to pay in doge“.

    Dogecoin hiked almost 34% in the last seven days to sit around $0.07, up 19% in the last 24 hours.

    Shiba inu also rallied 15.6% in the past week, up 8.6% in 24 hours to $0.00001136.

    The Tesla (TSLA) CEO marched into Twitter’s San Francisco headquarters on Wednesday holding a sink and stating: “Let that sink in.”

    A video of the act lit up the Twitter-sphere with speculation as to whether there was a deeper metaphorical meaning to the sink, beyond the obvious pun.

    Musk plans a new revenue model for Twitter, with the possible introduction of dogecoin payments, price cuts, and authentication checkmarks for its Blue subscription service.

    In April, Musk tweeted that anyone who signs up for Twitter Blue should pay less than the current $2.99 a month. He also said they should get an authentication checkmark.

    He said: “Price should probably be ~$2/month, but paid 12 months up front and the account doesn’t get checkmark for 60 days (watch for credit card chargebacks) and suspended with no refund if used for scam/spam.”

    Read more: Could Rishi Sunak make the UK a global crypto hub?

    He also said there should not be any ads on the platform as “the power of corporations to dictate policy is greatly enhanced if Twitter depends on advertising money to survive”.

    The crypto market has been mostly buoyant for the past two days, with forerunners bitcoin (BTC-USD) and ethereum (ETH-USD) shrugging their usual correlation with traditional stocks such as the S&P 500 (^GSPC) and Nasdaq (^IXIC).

    On Thursday the combined cryptocurrency market cap jumped 2.7% to $1.05tn, according to coingecko data.

    Bitcoin rose 0.6% to $20,724 on Thursday.

    Ethereum jumped over 21.2% in the past week to $1,556, rising over 2.6% in the past 24 hours.

    Watch: Martin Scorsese’s producer sees NFT’s as the future of film finance | The Crypto Mile



    Source link

  • Dogecoin (DOGE) and Shiba Inu (SHIB) Go Parabolic on News of Elon Musk’s Twitter Purchase. Floki (FLOKI) Is Another Crypto to Pay Attention To

    Dogecoin (DOGE) and Shiba Inu (SHIB) Go Parabolic on News of Elon Musk’s Twitter Purchase. Floki (FLOKI) Is Another Crypto to Pay Attention To

    Twitter stock (TWTR) rallied a little after Bloomberg report of Elon Musk closing his Twitter deal. The biggest beneficiaries of that news, however, have been Dogecoin (DOGE) and Shiba Inu (SHIB).

    Source link