Bitcoin Steady Above $66K after Apple CEO Confirms Crypto Investment

Bitcoin Steady Above $66K

Created by TradeOr

3rd Party Analysis 10 Nov 2021

Key Takeaways:

  • Bitcoin price steady above $66,000 amid a broad pullback across the crypto market
  • Tim Cook, Apple CEO, says he owns cryptocurrency while his company is “looking at crypto”

What’s Today’s News in Crypto?

Bitcoin and the wider cryptocurrency market are trading relatively stable in the early hours of Wednesday. That said, a slight pullback has pushed major tokens to slip below their record highs set a day earlier.

In more detail, both bitcoin and ether surged to record highs on Tuesday. The original cryptocurrency notched an all-time high of $68,480, while Ether rallied to a fresh record of $4,840.

In continuation of the positive trend on mainstream adoption, Tim Cook made the rather surprising announcement that he owns crypto. More precisely, speaking at the New York Times DealBook Online Summit the chief executive of Apple shared his view on digital assets.

“I’ve been researching it, and I’ve been interested in it for a while,” Tim Cook said during the interview. In response to a question if he owns any crypto, the Apple CEO confirmed he has invested in cryptocurrency.

“I do [own crypto], I think it’s reasonable to own it as a diversified portfolio,” Mr. Cook said. He also added that he isn’t giving anybody investment advice.

What’s the Price of Bitcoin?

Against this backdrop, the price of bitcoin is trading above $66,000 today. Early on Wednesday, the leading token peaked at a session high of $67,700. Moreover, the orange coin hovers just about 2% from its record high set this week. On this note, crypto bulls expect the upside swing to continue.

Other major tokens have also slipped from their all-time highs. Ether, for example, closed Tuesday’s session at levels near $4,800. With this in mind, the Ethereum blockchain’s native token is now trading near $4,700 per coin.

Broadly, the cryptocurrency market retreated from its all-time high valuation of $3 trillion. Presently, the entire digital asset space is worth about $2.9 trillion, of which bitcoin holds roughly $1.25 trillion, or 44%. Ether, in comparison, owns nearly 20% of the market at its current worth of $560 billion.

In conclusion, are you ready to join the crypto revolution? First, make sure to familiarize yourself with the details. To do that, simply check our cryptocurrency guide where you will learn how to securely invest in crypto.