Bitcoin is approaching a trillion dollar market cap, with the total value of all Bitcoin exceeding $ 900 billion for the first time today as the price hit new all-time highs.
Bitstamp, one of the oldest Bitcoin exchanges still in operation, recorded a peak price of $ 49,000, resulting in a volatile market cap of $ 912.69 billion. Bitcoin is currently costing $ 47,250 per coin, up 5% in the last 24 hours and 28% in the last seven days.
A market cap of $ 900 billion represents the addition of $ 354 billion in 2021 alone. The previous all-time high for Bitcoin’s market cap was set on February 8, when it reached $ 888 billion.
Bitcoin currently accounts for 61% of the total market cap of all cryptocurrencies, which also hit record highs when the majority of the top altcoins rose alongside Bitcoin. The market cap of all cryptocurrencies peaked today at $ 1,463 trillion – up from 88.5% in 2021 so far from the start of the year at $ 776 billion.
According to CompaniesMarketCap, a website that ranks the world’s most traded assets by their market cap, Bitcoin is now the ninth largest asset in the world, overtaking Facebook and Tesla in the past week. When placed on a list of countries based on GDP, Bitcoin’s $ 900 billion falls between Mexico ($ 1.04 trillion) and the Netherlands ($ 886 billion).
The new highs for Bitcoin come on the day of the approval of the first Bitcoin ETF in North America, the same week that the news surfaced, Tesla bought $ 1.5 billion worth of BTC, and amid a regulatory atmosphere that is increasingly friendly. has become relative to cryptocurrency-related developments in fintech.
Earlier this month, Biden’s government caused a stir in the crypto community by naming a number of crypto-friendly personalities in high positions, potentially indicating the potential for greater cooperation between regulatory forces and blockchain-based businesses.