This week in the world of cryptocurrency was a mixed bag. While Tesla Inc. reported significant paper losses on its Bitcoin holdings, the U.S. Senate Committee took a step forward in establishing federal regulations for digital assets.

Meanwhile, Bitcoin’s price took a hit, and analysts predict further downside. Let’s dive into the details.

Tesla’s Bitcoin Woes

Despite not selling any Bitcoin in Q4, Tesla Inc. reported substantial paper losses. The company’s earnings report revealed that it held $1.008 billion in digital assets as of Dec. 31, marking a 23% decrease from the previous quarter.

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US Moves Closer To ‘Crypto Capital’

The U.S. Senate…

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