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Bitcoin market exceeds $ 1,000 billion mark


Article link https://www.news1.news/news/2021/02/bitcoin-market-exceeds-1000-billion-mark.html

The total market value of all bitcoins has risen for the first time to more than 1 trillion or 1,000 billion dollars (about 828 billion euros). Bitcoin has been on a spectacular advance for a long time, with records piling up.

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On Friday, the bitcoin price was just below the $ 54,000 mark. Since the beginning of this year, the market value of all bitcoins together has already increased by more than $ 415 billion.

Other cryptocurrencies such as the ether are also reaching record levels, aided by the growing interest of large companies and professional investors in digital currencies. Earlier this month Tesla, the American manufacturer of electric cars, announced that it had bought $ 1.5 billion in bitcoins. Tesla would also accept the virtual currency as a means of payment. CEO Elon Musk is a well-known supporter of crypto coins and his statements on Twitter regularly send the price upwards.

Bitcoin was launched in early 2009 and was only worth a few cents back then. At the end of 2017, the world’s most famous crypto coin reached a peak of almost $ 20,000. But then the ‘crypto bubble’ burst and the coins quickly lost value. At the beginning of last year, the exchange rate was $ 10,000, while it has now more than quintupled. Analysts continue to warn of a new bubble. In addition, the cryptocurrency market is not regulated, which attracts criminals.

In comparison, a market value of $ 1,000 billion is more than that of most stocks. Tesla, for example, is “only” worth $ 700 billion, Apple is worth $ 2,000 billion.

READ ALSO. How Bitcoin breaks records again and that forces Elon Musk into a curious split




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