Bitcoin decreased by 3.37 percent in the last 24 hours to 35,297.93 dollars, while the weekly gain of the unit was calculated at 4.61 percent. Bitcoin's total market volume also decreased by about 21 billion dollars, from 679 billion dollars to 658 billion dollars.
The total market capitalisation in the crypto currency markets has again exceeded the 1.0 trillion-dollar level on Tuesday. With increasing corporate purchases, the total market capitalisation, which exceeded the 1.0 trillion dollar limit for the first time in history on January 7, stood over the limit of 1 trillion 8.15 billion dollars again in the first hours of the new day.
Some chief financial officers (CFOs) are rethinking investing their reserve funds in Bitcoin (BTC) following the recent 30 percent price correction
Wall Street CFOs are becoming wary of investing company funds into Bitcoin following the cryptocurrency’s massive price correction last week. As per a Bloomberg report, some CFOs don’t want to risk it despite the cryptocurrency’s excellent performance in recent months.
The crypto market has seen an influx of institutional investors in recent months. Publicly listed companies like Square, MicroStrategy, MassMutual, and Ruffers pumped billions of dollars of company cash reserve in Bitcoin last year. Reportedly, other firms are thinking of making the same move while those with BTC holdings are mulling over increasing their market positions.