Tesla's Bitcoin Announcement Turns Negative for Cryptocurrency Market | Finance Magnates
Elon Musk, CEO of Tesla, announced yesterday that cryptocurrency users can buy Tesla products through Bitcoin. While the news was positive for the adoption of BTC, the world's largest cryptocurrency lost nearly 5% of its value in the last 24 hours.
According to the latest data published by Coinmarketcap, the total market cap of Bitcoin has dropped below $1 trillion for the first time in 7 days. As of writing, the total market cap of cryptocurrency assets stands at around $1.63 trillion, down from $1.78 trillion yesterday.
