It has been reported that SpaceX and Tesla CEO Elon Musk, who bought Twitter for $44 billion, changed the platform's logo. The blue bird logo on the web version of Twitter was replaced with the logo of the cryptocurrency #Dogecoin

After the new logo appeared on Twitter's homepage, there was a 30% increase in the value of Dogecoin, but it soon dropped again. It is believed that the logo change, which occurred approximately six months after Musk bought the platform, was temporary and not coincidental.

Musk is known for his support of Dogecoin and had previously announced that #Tesla products could be purchased with cryptocurrency. He was also sued for allegedly creating a "pyramid scheme" to support Dogecoin with a value of $258 billion.

It is thought that the logo change is a reference to the lawsuit.

There has been no official statement from Twitter on the matter yet. However, Musk tweeted a cartoon in which a Shiba Inu dog, the symbol of Dogecoin, hands over its license to a police officer while driving a car. The license contains the old blue bird logo, to which Musk refers as "that old photo."



Musk also shared a screenshot of a tweet in which he had asked whether there was a need for a new platform before buying Twitter, and a follower had suggested buying #Twitter and changing the bird logo to Doge. Musk captioned the screenshot with "As promised."

#Binance #crypto2023

Post By: CryptosHeadlines.com

In Tesla’s latest Q3 earnings report, it’s revealed that the company didn’t sell any Bitcoin in the past three months. This marks the fifth consecutive quarter without any Bitcoin sales for the company.
The Q3 2023 Report 
According to the Q3 2023 Report, as of September 30th, Tesla held approximately 9,720 Bitcoin (BTC), valued at around $275.6 million. The report didn’t mention any conversion of BTC into cash during the third quarter, indicating no significant selling of digital currency. If they had sold a substantial amount, they would have likely shared this news in terms of profits and cash balance.
Tesla initially got into Bitcoin in early 2021, investing $1.5 billion and buying around 43,000 BTC at an average cost of roughly $34,000 per Bitcoin. This move was seen as a big show of confidence in Bitcoin as a store of value and caused the cryptocurrency’s price to spike. However, it also raised concerns about the company’s exposure to the volatile crypto market.
During this time, Tesla also began accepting Bitcoin as payment for its cars and other products.
Maintaining uniformity
Tesla, known for making electric cars, didn’t buy or sell any Bitcoin in Q2 2023, making it the fourth consecutive quarter without such activity.
After a surprising move in the second quarter, when Tesla sold nearly 75% of its Bitcoin holdings, approximately $936 million, to raise funds, the remaining digital assets were valued at $218 million.
Because the Bitcoin price remained relatively stable, staying just under $20,000 throughout the second and third quarters, Tesla didn’t report any losses or write-downs in the value of its Bitcoin holdings.
In summary
Tesla’s decision to stop selling Bitcoin aligns with its earlier choice to no longer accept it as payment for their electric cars because of environmental worries. Nevertheless, the company is actively working on expanding its digital asset holdings and searching for more eco-friendly ways to handle cryptocurrency transactions.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#CryptoMarket #Bitcoin #CryptoNews #Tesla #TeslaEarnings

Post By: CryptosHeadlines.co

Bitcoin has taken the spotlight with its soaring valuation, signaling an attempt to break free from recent months of consolidation. This surge has propelled Bitcoin ahead of several players in traditional sectors.According to data from Finbold, Bitcoin’s market capitalization reached $677.23 billion by October 26, surpassing the market caps of selected traditional sector stocks.
The flagship cryptocurrency has outpaced electric vehicle manufacturer Tesla, with a market cap of $675.26 billion, and pharmaceutical firm Eli Lilly at $556.72 billion.
Bitcoin’s Market Cap Surpasses Traditional Stocks
Bitcoin’s impressive market capitalization growth has seen it surpass the market caps of several traditional sector stocks. As of October 26, 2023, Bitcoin’s market capitalization reached $677.23 billion, marking a significant milestone.
Among the traditional sector stocks that Bitcoin has outpaced are electric vehicle manufacturer Tesla, pharmaceutical firm Eli Lilly, healthcare company UnitedHealth, finance giant Visa, and semiconductor manufacturer TSMC.
Other traditional finance stocks trailing Bitcoin’s market cap include Novo Nordisk, Walmart, Exxon Mobil, and JPMorgan Chase.
Moreover, Bitcoin’s valuation surged by an impressive 16% from October 20 to October 26, 2023, with its price trading slightly below the $35,000 mark. On October 20, Bitcoin was valued at $29,682, and by October 26, it had risen to $34,534.
Bitcoin’s Surge Driven by ETF Speculation
Bitcoin’s recent surge can be largely attributed to the growing interest in the potential approval of a spot exchange-traded fund (ETF). Of note is the inclusion of BlackRock’s Bitcoin ETF in a list managed by the Depository Trust and Clearing Corp, a clearinghouse affiliated with Nasdaq. This development has heightened excitement in the crypto market.
Simultaneously, rising geopolitical tensions have directed attention towards scarce assets like Bitcoin, further fueling the cryptocurrency’s performance.
Bitcoin’s remarkable performance notwithstanding, traditional financial markets offer their unique advantages, including stability, institutional support, and clear regulatory frameworks. On the other hand, Bitcoin stands as a digital, decentralized alternative that is increasingly favored by a growing segment of investors.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Blockchain #CryptoMarket #Bitcoin #CryptoNews #Tesla