The Bitcoin market cap briefly exceeded $ 900 billion

Bitcoin is close to a trillion dollar market cap, as the total value of all Bitcoin surpassed $ 900 billion for the first time today as the price reached new highs.

BitstampOne of the oldest bitcoin exchanges still in operation, it recorded a peak price of $ 49,000, which led to a crossover market capitalization of $ 912.69 billion. Bitcoin is currently priced at $ 47,250 per coin, up 5% in the past 24 hours and 28% in the past seven days.

The market value of $ 900 billion represents an addition of $ 354 billion in 2021 alone. The previous all-time high of Bitcoin’s market value was set on February 8, when its value exceeded $ 888 billion.

Bitcoin currently Accounts With 61% of the total market capitalization of all cryptocurrencies, which also reached an all-time high as the majority of digital currencies rose alongside Bitcoin. The market cap of all cryptocurrencies peaked at $ 1.463 trillion today – rising 88.5% in 2021 so far after it started the year at $ 776 billion.

according to CompaniesMarketCap, A website that ranks the world’s most traded assets by market value, and is now the ninth largest in the world, overtaking Facebook and Tesla last week. When placed on the list of countries by GDP, Bitcoin $ 900 billion is located between the countries of Mexico ($ 1.04 trillion) and the Netherlands ($ 886 billion).

Bitcoin’s new highs come in a day Approval of the first Bitcoin ETF in North AmericaIn the same week that the news broke, Tesla bought $ 1.5 billion in Bitcoin, amid a regulatory climate that was Increasingly friendly to cryptocurrency developments At fintech.

Earlier this month, the Biden administration Sensation in the crypto community By appointing some of the cryptocurrency-friendly personalities to senior positions, which may indicate the opportunity for a greater degree of cooperation between regulatory forces and blockchain-based institutions.