Tesla Revs Up Bitcoin Portfolio!

Tesla's Bitcoin wallet revealed an increase from 9,720 BTC to 11,509 BTC.

Author

Danielle du Toit
March 08, 2024

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Here's what we've got for you today:

  • Elon Musk’s Tesla Increases Bitcoin Holdings and Sparks Crypto Buzz

  • Solana Price Reaches $150 for the First Time Since January 2022

  • XRP Community Activist Rebuts Ripple Price Manipulation Allegation

  • SEC Delays Spot Bitcoin ETF Options Request Until April 4

🪙 Elon Musk’s Tesla Increases Bitcoin Holdings and Sparks Crypto Buzz

Tesla's involvement with buying Bitcoin has once again caught the attention of the crypto community.

  • Arkham Intelligence recently introduced a feature to monitor Tesla's Bitcoin wallet, which revealed an increase to 11,509 BTC from the previous 9,720 BTC.

  • In February of 2021, Tesla invested $1.5 billion in Bitcoin during a peak in the crypto market, but the company later sold a big chunk of its holdings.

  • After the rise in Tesla's Bitcoin reserves, there is now growing speculation in the crypto community about the company's attitude towards Bitcoin at the moment.

Solana's native token, SOL, witnessed an impressive surge of 19.5% between Mar. 5 and Mar. 7.

  • Many believe SOL’s increase in value could be attributed to Bloomberg's report on Pantera Capital's plans to buy $250 million in SOL tokens from the FTX estate.

  • The news has led to widespread discussions about the sustainability of SOL's 47% gains over the past twelve days and its potential to surpass the $200 mark.

  • Others believe the bullish momentum behind SOL's recent surge is attributed to the growing interest in Solana SPL memecoins, and not just institutional investments.

A member of the XRP community has sparked a debate on X about claims that Ripple manipulated the XRP token's price.

  • Allegations against Ripple emerged from documents suggesting the use of GSR trading bots for institutional XRP sales, which Ripple's CTO denied.

  • The activist explained that Ripple’s sales aren’t aimed at controlling XRP’s price but as most businesses do, they are to raise funds by “dumping”.

  • Ripple successfully countered the SEC's claims of selling unregistered securities on exchanges, which the activist believes proves their transparent business practices.

The SEC delayed making a decision on two proposals to introduce options on spot Bitcoin ETFs .

  • The U.S. SEC postponed the approval, denial, or initiation of a rule change for Nasdaq's application to list and trade options on BlackRock’s iShares Bitcoin ETF (IBIT).

  • The delay comes after the SEC's approval of Bitcoin ETFs from issuers like BlackRock, Fidelity, and ARK 21Shares in January.

  • The SEC also delayed a decision on whether the Chicago Board Options Exchange (Cboe) can offer spot Bitcoin ETF options, with a new decision date set for April 24.

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