Tesla Sold $272M Worth Of Bitcoin In Q1 – April 27

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $55,248

Bitcoin price has finally crossed back above the $55,000 mark, as price continues to rebound with strength from weekend lows.

Top-20 altcoins are still going strong, as Ethereum rises 3%, XRP gains 21%, and VeChain has a 16% rise.

Top Stories for April 27, 2021 πŸ”₯

πŸ‘‰ Tesla Sold $272M Worth Of Bitcoin In Q1

Tesla has been revealed to have sold $272 million worth of Bitcoin in Q1 of this year, according to the company’s earnings report for the quarter.

The figure only represented 10% of Tesla’s total Bitcoin holdings at the time – all starting with a total purchase of $1.5 billion in February.

CFO Zach Kirkhorn stated that Tesla had invested in the cryptocurrency to earn yield on Tesla’s excess cash, while interest rates are low.

πŸ‘‰ Binance To Launch NFT Marketplace In June

Cryptocurrency exchange Binance has announced that it will be launching its own NFT marketplace in June, for creating and trading NFTs.

According to Binance, the platform will offer a better user experience than alternatives, with low fees and high liquidity.

πŸ‘‰ Crypto Trading To Be Taxed, Says South Korean Finance Minister

South Korean finance minister Hong Nam-ki has confirmed that the country’s government will begin to tax capital gains on cryptocurrency trading, beginning in 2022.

Nam-ki says that the tax is “inevitable”, and that cryptocurrencies such as Bitcoin will be taxed as intangible assets.