Bitcoin’s Market Capitalization Hits $1 Trillion
The titan of cryptocurrencies rose to record highs on Friday, reaching a milestone of $1 trillion in market capitalization.
Bitcoin carried out another onslaught after assuring support and acceptance from several major business players such as Tesla and MasterCard.
The digital giant was traded on Friday for $54,000 which means a substantial growth of more than 300% from its price 6 months ago.
Although Bitcoin is not a large company, it may be interesting to compare its value to the capitalization of the biggest companies in the world, According to CompaniesMarketCap, there are only 5 companies above the prestigious $1 trillion level. These are Alphabet (Google), Amazon, Microsoft and Saudi Aramco, which is over $2 trillion along with Apple.
With this, Bitcoin left behind Facebook, Tesla and recently the Chinese Tencent.
The valuation of BTC in October 2020 was still only $240 billion. The coin has undergone stable and rapid growth since then, testifying to the increased trust and acceptance of business.
All of this incredible development has gone through virtually unbroken since the March 2020 collapse, when Bitcoin’s price plummeted to $3,600 due to pandemic-related news.
This extraordinary success is attracting more and more newcomers to the world of cryptocurrencies, which is confirmed by Google searches. However, unlike the price, searches for the keyword Bitcoin have not yet reached the 2017 peak.
With Bitcoin, you can reap benefits in a number of ways, including mining, Buy and Hold, and trading. Within trading, we also have additional options to choose between manual and a crypto trading bot.
After 2018, cryptocurrencies and with them Bitcoin lacked attention for a long time. Compared to this period, the second half of 2020 and the beginning of 2021 are filled with distinctly turbulent, positive news of acceptance and new milestones.
DISCLAIMER
Trading cryptocurrencies involves risk. The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the article’s content as such. Author, website or the company associated with them does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions. Lastly, this article is not targeted at French citizens or residents.
