According to a filing with the United States Securities and Exchange Commission on Jan. 31, electric vehicle manufacturer Tesla disclosed that it recorded a $204 million gross impairment loss during 2022 on its Bitcoin (BTC) holdings. Simultaneously, Tesla recorded a gain of $64 million from converting BTC into fiat currency at various points during the year, resulting in a net loss of $140 million from its cryptocurrency trading activities.  

Bitcoin (BTC) mining company Greenidge Generation has significantly reduced its debt with the investment management firm, New York Digital Investment Group (NYDIG).

Nigerians are paying 60% above the spot price for Bitcoin. This is what happens when people lose faith in monetary policy.

After failing to overcome $24,000 yesterday, bitcoin took a serious dive and dropped by over $1,500 at one point.

The price of Bitcoin in Nigeria is surging beyond market levels as demand increases. This has been largely caused by central bank restrictions on cash.

Bitcoin has added 38% to its USD value since the beginning of the month when it was priced at around $16,846. This has made January the asset’s best-performing month since October 2021, when it notched up 41%, according to Glassnode.

Coinshares saw its biggest inflows last week since July as total assets under management rose 43% from a November low.

Crypto prices slid alongside the S&P 500 and the Nasdaq, while the Dow traded in the green.

Bitcoin Premium is trading at $38,000 in Nigeria following increased demand for the asset in the country.

The total bitcoin mining revenue (block rewards plus transaction fees) per day soared by almost 50% since the beginning of the month, tapping almost $24 million.