Tesla's market capitalization has briefly hit the $1 trillion mark on Monday. As of press time, Tesla's (TSLA) shares are now trading at $1016.37, up about 10.5%, according to EXANTE. Thus, Tesla entered the basket of select company with Amazon, Facebook, Google, and Apple, which also have market capitalization over $1 trillion.
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Tesla's surge follows the company's report which said it had suffered impairment losses of $51 million on its bitcoin (EXANTE: Bitcoin) holdings during Q3, relative to its initial investment value. At the same time, the price of bitcoin itself experienced a 30% increase during the quarter.
Tesla unveiled in February it had invested $1.5 billion in bitcoin and subsequently sold a tenth of its assets in the cryptocurrency. It is estimated that the company currently holds 42,902 BTC.
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