Bitcoin’s grim close, Tesla’s crypto sell-offs, Ether’s jaw-dropping surge

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week

Bitcoin bulls attack $57,000, and altcoins rally as April comes to a close

A sudden bullish surge took traders by surprise as April drew to a close, with Bitcoin staging a 10% rally in a matter of hours.

Highs of $58,448.34 helped to erase recent losses — but not entirely.

Data from Bybt shows that BTC’s price fell by 1.98% last month. That’s the first time the world’s biggest cryptocurrency has closed the month of April in the red since 2015.

A contributing factor to upbeat market activity may have been linked to an astounding surge in revenues at MicroStrategy, a company that owns 91,000 BTC.

MicroStrategy CEO Michael Saylor said: “We will continue to acquire and hold additional Bitcoin as we seek to create additional value for shareholders.”

Ethereum’s market cap exceeds platinum’s for the very first time

While Bitcoin had lost its footing for most of the week, Ether has gone from strength to strength.

The No. 2 cryptocurrency continues to break new all-time highs — with the latest record of $2,879.75 set on Saturday.

Overall, 2021 promises to be a crucial year for the Ethereum blockchain as the long-awaited Eth2 upgrade takes shape. The network is set to part ways with its proof-of-work consensus algorithm and shift to proof-of-stake, which is set to cut costs and preserve energy.

At $330 billion, Ether’s market cap has now exceeded industry giants including Procter & Gamble and PayPal — not to mention platinum. The digital asset is also a stone’s throw away from overtaking The Walt Disney Company and Bank of America.

Tesla books huge profit from Bitcoin sale in Q1 

Tesla sold a portion of its Bitcoin holdings in the first quarter, pocketing a profit of $101…

Read More