20.4 C
New York
Tuesday, September 28, 2021
spot_img

Bitcoin at $50,000 is Just the Beginning

Bitcoin reached $900 billion in market valuation last week for the first time ever, adding over $350 billion in 2021 alone.

Today it broke the $50,000 barrier, but it is just getting started.

It currently accounts for 61 percent of the total market cap of all cryptocurrencies.

The cumulative market cap of crypto coins has grown 88.5 percent in 2021 so far, after starting the year at $776 billion.

When placed on a list of nations by GDP, bitcoin’s $900 billion falls between Mexico ($1.04 trillion) and the Netherlands ($886 billion).

It is also ahead of Switzerland, whose GDP is $707 billion.

Bitcoin has gained more institutional support lately, triggering another massive rally.

Earlier this month, Tesla announced a $1.5 billion investment in bitcoin, saying it will start accepting it as payment. Also this month, the first bitcoin ETF was approved in North America.

S. Jack Heffernan Ph.Dhttps://www.knightsbridgelaw.com
S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.

Related Articles

Stay Connected

15,334FansLike
43,300FollowersFollow
2,855SubscribersSubscribe
- Advertisement -spot_img

Latest Articles