Come Thursday morning, cryptocurrency prices hit a new low after two consecutive days that had a brutal effect on digital assets. It begs the question of whether major conglomerates that once touted the benefits of crypto are still holding on today.
Bitcoin was able to bounce back to $19,200 after dipping below its $19,000 level overnight. Currently, Bitcoin holds a total market cap of $369.6 billion. Ethereum, on the other hand, is trading at $1,270 after it fell past its $1,300 level on Wednesday night.
In addition, a recent study by the Bank of America shows that a large amount of private wealth, $84 trillion to be specific, will be passed down to millennials and Gen X within the next 2 decades.
However, the generational disparity in people’s view of money has never been greater as more young investors shift their focus to crypto.
Tesla Holding Onto $218M in Bitcoin
One such example is that of Tesla, which is run by Elon Musk, an eccentric billionaire and renowned crypto fan. According to the latest Q3 earnings reports, Tesla still owns about $218 million worth of Bitcoin.
Based on these findings, things seemed to have changed very little since the end of Q2, when the company ended up selling over 80 percent of its digital assets.
Warner Bros. Plans On Ethereum-Powered Movie Releases
Aside from the futuristic EV car company, various other conglomerates are eyeing the opportunities that cryptocurrencies can provide. For instance, Warner Brothers’ studio will be rolling out new features for its WB Movieverse.
These include NFTs and Ethereum-compatible Web3 cinematic experiences for the popular film, The Lord of the Rings: The Fellowship of the Ring.
These will essentially act as real-life multimedia NFTs and will comprise extended versions of the film in 4K UHD, hidden AR collectibles, interactive content, and hours of various special features.
Bloomberg Launches Dash 2 Trade
Bloomberg recently unveiled its latest development in the digital asset space, Dash 2 Trade, a crypto intelligence, and analytics platform.
For an affordable subscription fee, users can get access to various signals, indicators, metrics, and tools via the Dash 2 Trade dashboard. These features are meant to enhance their trading performance.
The dashboard was developed by a team of crypto experts. This explains the platform’s advanced capabilities such as social media indicators, actionable signals, trading API, and ICO scoring system.
This allows investors to make informed trading decisions and develop profitable strategies after completing due diligence.
The platform is set to raise about $40 million via presales of its D2T token. Within the first day of the D2T presale launch, traders scooped up $300,000 worth of tokens.
Additionally, Fidelity Digital Assets will allow customers to buy, sell, and transfer Ether tokens by October 28.
James Thompson