The Magazine for Asian Investors
Bitcoin continues to fight for an uptrend at the $44,000 level. Today (February 10) Bitcoin rose 0.54% and moved at $44,226.26.
The positive movements of Bitcoin come hand in hand with the stock markets which were able to close in positive territory on Wednesday.
The Dow Jones Industrial Average rose 305.28 points, or 0.86%, to close at 35,786.06.
The S&P 500 Index rose 65.64 points, or 1.45%, to close at 4,587.18 points.
The Nasdaq Index rose 295.92 points, or 2.08%, to close at 14,490.37.
Meanwhile, Tesla has had to report losses due to the bitcoin price drop.
Elon Musk’s Tesla company reported a $101 million loss to the U.S. Securities and Exchange Commission due to falling bitcoin prices, but that didn’t hurt the company’s finances.
Tesla holds about $2 billion in bitcoin and made $128 million on its bitcoin investment after a couple of sales in March 2021.
The shares of Tesla are up 2% but have already taken a drop of more than 10% this year after investors sold technology stocks.
Bitcoin prices have fallen more than 7% this year and are down about 40% from a record high of nearly $69,000 in November.
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Thursday, February 10, 2022