Tesla owned 41,953 bitcoin at the end of the first quarter based off of the cryptocurrency's closing price of $59,114 on March 31.

"We do believe long term in the value of bitcoin," Zachary Kirkhorn, Tesla's 'master of coin', said in an earnings call.

"I fully believe bitcoin is the future of finance and I wanted to prove that I have real skin in the game," Culkin said.

Bitcoin picked up on Monday as investors appeared to be drawn in by the sharp price fall.

Bitcoin could ultimately find support at $42,000, representing a 15% decline from current levels, according to one technical analyst.

Joe Biden's tax-hike proposals are one factor weighing on bitcoin. Analysts said the cryptocurrency could have further to fall before finding support.

Bitcoin's price could slide by 50% after its run-up to record highs, said Guggenheim Partners' Scott Minerd, who remains a long-term bitcoin bull.

"The flow into bitcoin funds appears weak, raising concerns about the strength of the overall bitcoin flow picture at the moment," JPMorgan said.

"The 50-day MA is being tested, and we believe consecutive closes below it would increase risk of a test of support near $42,000," Stockton said.

Bitcoin reached a low of $51,300 after it dropped more than $7,000 in a single hour, before recovering slightly. It hit nearly $65,000 in the week.

Bitcoin's 113% year-to-date gain looks paltry relative to other cryptocurrencies that have soared in recent months.

Cryptocurrencies have picked up steam in Turkey as investors sought various hedges against the unstable lira.

"I paid off a mortgage yesterday with it," the 'Mad Money' host said Thursday on CNBC, adding that selling half his portfolio helped him.

Bitcoin hit a record high for the second day running, as crypto exchange Coinbase's direct listing added to the buzz around cryptocurrencies.

There is still downside potential for bitcoin, especially if the cryptocurrency fails to establish consecutive daily closes above its previous March high.

Bitcoin soared as high as $63,179 on Tuesday as the remarkable rally in the world's biggest cryptocurrency showed no signs of slowing.

US stocks slipped from records as the economic-optimism fueled recovery took a breather Monday. Intel fell after Nvidia announced plans to manufacture its own CPU processor.

Bitcoin briefly topped $61,200 on Monday as the crypto world awaited Coinbase's IPO, expected to price on Wednesday.

Riot Blockchain announced on Monday that it produced 187 bitcoin in March, an over 80% increase versus last year's pre-halving results.

Wedbush's Ives said "Bitcoin is not disappearing but instead likely to become more mainstream over the coming years," in a note to clients Thursday.

Since hitting its record high in mid-March, bitcoin has traded mostly sideways and failed to push through the $60,000 level three separate times.

The new record came just a few months after the cryptocurrency market hit the $1 trillion mark for the first time in January.

MicroStrategy has amassed around $2.226 billion worth of bitcoin since its first purchase in August 2020.

"A lot of investors are getting in without knowing the history" of bitcoin's wild volatility, crypto entrepreneur Bobby Lee said.

"Mechanically, the bitcoin price would have to rise [to] $130,000, to match the total private sector investment in gold," JPMorgan said.

"The whole rally in crypto... is getting very long in the tooth," currency strategist Boris Schlossberg told CNBC.

"The bitcoin rally may be partly fueled by institutional involvement with recent announcements from Visa and PayPal inspiring new all-time highs last night," Paolo Ardoino, CTO of Bitfinex, told Insider.

Bitcoin and ether both popped on Monday following reports that Visa would allow the use of a US dollar stablecoin to settle payment transactions.

The daily average percentage move in shares of GameStop stands at 21%, compared to just 3.6% for bitcoin, according to Bespoke.

The expiration of more than $5 billion of bitcoin options on Friday is adding to volatility in the market, analysts suggested.

The move from Fidelity - which has around $4 trillion under management - is the latest sign of institutional interest in bitcoin.

"When it was hitting $19,000 in late 2017, I was on a TV show, and I told the audience that it would crash," Belfort said.

The growing crypto hedge fund industry has around $3.4 billion under management, data provider Eurekahedge said.

The behavior of big bitcoin holders is reminiscent of previous peaks, the crypto-analysis firm Glassnode said.

The price of bitcoin could hit $300,000 in the latest leg in the bull market but then plunge into a years-long "winter," BTCC's founder said.

The firm also raised questions surrounding bitcoin's rising valuation and whether it's enough for the cryptocurrency to evolve into an asset class.

A management fee of 1.00% is set to generate at least $10 million in annual revenue for Purpose Investments if assets remain above $1 billion.

Digital asset firm CrossTower said it expected bitcoin ETFs to "fill the inflow gap" left by a fall in the Grayscale Trust share price.

JMP Securities estimates around $30 trillion of assets in the US retail wealth management industry currently do not have direct access to bitcoin.

Analysts said a supportive Fed, government stimulus, and more interest from big players was helping the bitcoin price.

"We've dug ourselves into a little bit of a hole," Hester Pierce said in an interview. "A lot of people are looking for a way to access the asset class."

The Grayscale Bitcoin Trust likely owns 700,000 bitcoin, which represents about 3.5% of total supply, Bank of America said in a note on Wednesday.

Access to bitcoin funds is limited to clients with "an aggressive risk tolerance" on top of having at least $2 million in assets with the firm, CNBC reported.

Citi Private Bank CIO David Bailin says he believes bitcoin "is going to do well because of the level of interest" in the digital asset.

Citi Private Bank CIO David Bailin says he believes bitcoin "is going to do well because of the level of interest" in the digital asset.

The red-hot cryptocurrency surged 20% last week, breaking the $60,000 threshold and continuing above $61,000 over the weekend.

The T3i BitVol Index, measures the expected 30-day implied volatility in bitcoin derived from tradable bitcoin option prices.

Bitcoin traded as high as $57,258 Wednesday, on track for a second straight weekly gain after falling from a high of over $58,000 last month.

Mobius said he isn't worried about higher yields affecting the stock market as historically there's "no clear correlation" between them.

Bitcoin climbed above $54,000 early Tuesday as institutional support continues to steadily increase, shrugging off concerns around volatility.

The survey also showed that 54% predict the price of the cryptocurrency will hover in the range of $40,000-$100,000 over the next year.

Mike Novogratz said investors should be focusing on bitcoin, which he said could hit $500,000 if institutions keep up their "frantic" interest.

Rising Treasury yields most directly slam growth stocks, as their elevated valuations sour when government debt offers stronger returns.

Goldman Sachs, which first set up a cryptocurrency desk in 2018, is also reportedly exploring a bitcoin exchange traded fund.

Gensler said that the SEC would enforce investor protections in the crypto market, including ensuring that the custody of digital assets are safe.

China's Inner Mongolia will ban all cryptocurrency mining activities by April 2021 amid efforts to curb high energy-use projects.

MicroStrategy now owns a total of 90,859 bitcoin at an average price of $24,063, inclusive of fees and expenses.

Bitcoin had an epic run throughout February. Insider takes a look back at a historic rally in the world's most popular cryptocurrency.

Around $150 billion has been wiped off the bitcoin market since the price hit a record high of above $58,000 on Sunday.

Shares in the Grayscale Bitcoin Trust have fallen at the fastest rate in almost a year as bitcoin has plunged from a record high of above $58,000.

Tech stocks led a steep decline in US stocks as the 10-year Treasury yield spiked to its highest point in a year.

"It's less than half of Apple's valuation and here we're talking about the reserve currency of the crypto asset world," Wood said of bitcoin's potential.

Square's purchase of an additional $170 million of bitcoin and bullish remarks from Cathie Wood helped the digital asset recover on Wednesday.

Bitcoin represents about 5% of Square's total cash, cash equivalents, and marketable securities as of the end of last year.

The recent plunge in the bitcoin price is simply a "healthy correction" after a record-breaking rally, superstar investor Cathie Wood said.

Shares of Long Blockchain have been delisted by the SEC after failing to file its financial reports. The company formerly operated as an iced-tea company, but it tried to pivot to blockchain and changed its name to Long Blockchain from Long Island Ice Tea amid the bitcoin frenzy of 2017. […]

Tesla’s $US1.5 billion purchase of bitcoin last month means the company’s stock is “heavily tied” to the digital currency, Wedbush analyst Dan Ives said in a note on Tuesday. Tesla stock has dropped 21% since it announced its purchase of bitcoin earlier this month. “It’s ‘buckle up the seat belt […]

The bitcoin price slumped to below $US46,000 on Tuesday as the cryptocurrency sell-off continued. Other cryptocurrencies such as ether and XRP also plunged as cash fled the market. Investors have second-guessed the recent market rally, with tech stocks also tumbling. Sign up here for our daily newsletter, 10 Things Before […]

The decline in bitcoin "doesn't change fair value" in the cryptocurrency, Lee said before reiterating his $100,000 price target.

Rakesh Jhunjhunwala said in an interview that the volatility of bitcoin will hinder its use as a method of transacting.

Worries over bitcoin's sky-high price and comments from Elon Musk and Janet Yellen set the cryptocurrency tumbling.

The SEC said in its order that Long Blockchain's supposed pivot to crypto technology failed to materialize.

"There is a lingering worry that the bitcoin sideshow could overshadow the overall EV growth story playing out for Tesla in 2021 and beyond," Ives said.

Investors rotated further to value stocks from growth names, aiming to get into the sectors early before fresh stimulus supercharges economic growth.

US stocks fell Monday morning as investors weighed how the next stimulus will impact inflation. Commodity prices are soaring and the 10-year US treasury note is at its highest point in a year. Bitcoin fell 10% after skyrocketing to new records over the weekend. Sign up here for our daily […]

Bitcoin tumbled 8% Monday after hitting a record above $US58,000 for the first time over the weekend. On Sunday, Bitcoin hit $US58,042, for a year-to-date gain of over 100%. The popular cryptocurrency surged 305% in 2020. Sign up here for our daily newsletter, 10 Things Before the Opening Bell Bitcoin […]

Tech stocks pulled back over valuation concerns while investors weighed what rising yields could mean for inflation.

Bitcoin fell below $48,000 on Monday after notching a series of highs in the past week. The token reached a $1 trillion market cap on Friday.

US lawmakers will debate on Biden's proposed $1.9 trillion American Rescue Plan act this week, though some investors are nervous the stimulus could elevate inflation.

A slew of experts gave Insider their opinion on where bitcoin stands compared to gold after the digital currency reached a $1 trillion market cap this week.

Will Hobbs, CIO at Barclays Wealth & Investments, said bitcoin is "multiples more volatile than our most white-knuckle-ride asset class."

Bitcoin hit a new high of close to $US53,000 on Friday morning. The cryptocurrency’s year-to-date gains hit 80% and its market capitalisation neared $US1 trillion. Interest from big-name firms such as Tesla and BlackRock has powered the stunning rally. Sign up here for our daily newsletter, 10 Things Before the […]

Bitcoin's 60% surge this month has far surpassed the growth of traditional assets, from stocks to gold.

The jump in the cryptocurrency's price took its market capitalization to within inches of $1 trillion.

JPMorgan said unless bitcoin's price swings subside "quickly from here," the current rally could end in disappointment.

The Purpose Bitcoin ETF (BTCC) far outstripped the usual first day performance of an exchange-traded fund, with almost 10 million shares trading.

US bond yields hovered close to one-year highs, with some investors fearing that a further rise could knock the stock-market rally.

The recent surge in bitcoin's price to above $52,000 has taken the cryptocurrency's market capitalization to roughly $957 billion.

Mike Venuto, co-portfolio manager of the Amplify Transformational Data Sharing ETF, says bitcoin will rise to $US250,000 in the next three years. The ETF manager says though that the road ahead will be volatile. Bitcoin on Wednesday hit a record high above $US51,700. Sign up here for our daily newsletter, […]

US futures flatlined on Wednesday, as Treasury yields stayed at one-year highs. Bond yields have jumped as investors expect stronger growth and inflation. Bitcoin rose to a new high of above $US51,700 while oil prices remained elevated. Sign up here for our daily newsletter, 10 Things Before the Opening Bell […]

Bitcoin's market cap is approaching $1 trillion on encouraging signs of adoption from the likes of Tesla, Mastercard, and BNY Mellon.

The valuation is based off of trades last week on the Nasdaq Private Market, with Coinbase hitting $303 per share, sources told Coindesk.

NYU professor and noted economist Nouriel Roubini said bitcoin is a "bubble" based on "manipulation" in an interview with Bloomberg on Wednesday.

MicroStrategy's existing stake in bitcoin was worth $3.7 billion after the cryptocurrency hit a high of $51,721 in Wednesday trades.

The manager of the $808 million Amplify Transformational Data Sharing ETF says the road ahead will be volatile, but the token is set to rise.

Bitcoin rose to a new high of above $51,500, while WTI crude oil stayed at around one-year peaks, thanks to freezing weather in Texas.

Bitcoin miner Canaan Creative is soaring amid a run on cryptocurrencies and a crypto mining machine shortage. Shares jumped as much as 41% on Tuesday before paring gains. Canaan says customers have ordered over 100,000 bitcoin mining machines through 2021. Sign up here for our daily newsletter, 10 Things Before […]

Bullard said in an interview that most investors still want a "stable store of value" and a "safe haven," characteristics he says are not yet present in cryptocurrencies like bitcoin.

Chinese bitcoin mining machine maker Canaan Creative skyrocketed Tuesday amid the token's surge past $50,000 and a shortage of mining equipment.

A boost in its price has been driven by major companies including Tesla, JPMorgan, and Morgan Stanley warming up to cryptocurrencies.