Bitcoin is reaching the 1,000 billion dollar mark

The total market value of all bitcoins has risen to over $ 1 trillion for the first time.

The bitcoin hype continues to push boundaries. On Friday, the total market value of all bitcoins rose for the first time to more than 1 trillion dollars, or 1,000 billion dollars (about 828 billion euros). 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.

Bitcoin has been on the rise for some time now, with records piling up. Earlier this week, the cryptocurrency price passed the $ 50,000 threshold for the first time. By Friday, that value had already risen to $ 54,000. 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 announced that it had bought $ 1.5 billion worth of bitcoins. The American manufacturer of electric cars 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 up (DS February 9).

Bubble

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.

.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.