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The former US Federal Reserve governor Kevin Warsh who was once a skeptic on bitcoin has changed his way on the asset and commented that Bitcoin "does make sense". Changing monetary policy and humongous money printing has made him change his thought.
Market capitalization refers to how much a company or asset is worth. Tesla's market cap is $ 716 billion, according to Asset Dash, but Bitcoin, which had a market cap of $ 640 billion just yesterday, has now overtaken Tesla, placing it in seventh overall on Facebook, Amazon, and Apple.
Over the past 24 hours, Bitcoin's market capitalization has increased 10.4%, which also caused Bitcoin to surpass the market capitalization of multinational tech company Alibaba Group Holdings of approximately $ 650 billion (now $ 615 billion).
According to Kraken, the total number of Bitcoin whales holding over 100 Bitcoins has surpassed 16,300 - a number not seen since March 16, 2020. Many of these addresses represent institutional investors.
Bitcoin's newcomers, who have been increasingly attracted to the asset since MicroStrategy invested $ 425 million in Bitcoin in the summer.
The total number of Bitcoin on these addresses reached around 11.46 million BTC in December, represents the highest level seen throughout 2020. So not only are there more whales but their growth as well.