Tesla overtakes Bitcoin on global asset leaderboard
Crypto Briefing
Tesla has surpassed Bitcoin in global asset rankings by market capitalization following a significant drop in Bitcoin's price.Summary
Tesla has moved ahead of Bitcoin on the global asset leaderboard based on market capitalization, securing the 11th position while Bitcoin dropped to 12th. This shift occurred after Bitcoin's price tumbled, bringing its market capitalization down to approximately $1.5 trillion, while Tesla is valued at $1.6 trillion. Earlier this week, Bitcoin had already fallen out of the top 10 global assets, trailing Meta Platforms and Taiwan Semiconductor Manufacturing Company. The recent market correction triggered widespread deleveraging, resulting in the liquidation of roughly $2.5 billion in leveraged crypto positions over the last day, with long traders absorbing the majority of the $2.4 billion in losses.
(Source：Crypto Briefing)