The Bitcoin (BTC) currency is approaching a trillion dollar market capitalization. Bitcoin’s total value exceeded $ 900 billion for the first time, and the price reached new record highs.
Bitstamp, one of the oldest Bitcoin exchanges currently operating, was traded at a record price of $ 49,000, during which time a market value of $ 912.69 billion was created. At the time of writing, Bitcoin was priced at $ 47,244. It has achieved an increase of 5.58 percent in the last 24 hours and 28 percent in the last seven days.
The market value of $ 900 billion means an additional $ 354 billion in inflows in 2021 alone. It was on record when Bitcoin’s market cap hit an all-time high of $ 888 billion on February 8.
Bitcoin currently accounts for 61 percent of the total market capitalization of all cryptocurrencies. As many of the biggest altcoins soar with Bitcoin, they also reached all-time highs. The total market value of the cryptocurrency ecosystem reached its peak with $ 1.463 trillion. The sector, which started the year at $ 776 billion, has already achieved an increase of 88.5 percent in 2021.
CompaniesMarketCap, the website that lists the world’s most traded assets by market value, announced that Bitcoin is currently the ninth largest asset in the world. The cryptocurrency outpaced Facebook and Tesla last week. When placed on the list of nations according to GDP data, Bitcoin’s 900 billion dollar value falls between Mexico ($ 1.04 trillion) and the Netherlands ($ 886 billion).