Bitcoin News

The market value of Bitcoin exceeded $ 1 trillion

The market value of this digital currency reached more than $ 1 trillion yesterday, after the price of Bitcoin crossed $ 53,000.

to the the report Bitcoin Desk, the market value of Bitcoin crossed the $ 1 trillion mark after the price of this digital currency crossed $ 53,000. Bitcoin has risen 8 percent since yesterday, and currently trades at around $ 55,700 per bitcoin. It is worth noting that the bitcoin market value was $ 178 billion last year.

Bitcoin has grown by about 80% since the beginning of this year, and we still do not see any signs of stopping the uptrend.

The current market value of Bitcoin
Current Bitcoin Market Value Chart

Mike McGlone, Bloomberg Senior Commodity Strategy, said:

Certainly, like all rising markets, there is a high volume of speculative activity in the current market. However, the rise in the price of bitcoin is based on its becoming a global digital storage asset.

In the past, many of the world’s largest companies, such as Tesla, Microstrategy and Square, have announced that they have bought or intend to buy Bitcoin. On the other hand, some large financial institutions such as Deutsche Bank and BNY Mellon have announced the launch of digital currency trust services.


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