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Technology Bitcoin's market value tops $1 trillion

06:50  20 february  2021
06:50  20 february  2021 Source:   cnn.com

Storming the Capitol drives Bitcoin price - 40,000 dollar mark broken for the first time

 Storming the Capitol drives Bitcoin price - 40,000 dollar mark broken for the first time Bitcoin has passed the 40,000 US dollar mark for the first time. The cryptocurrency is thus continuing its rapid upward trend. And the storm on the Capitol is also to blame. © REDPIXEL.PL / Shutterstock Bitcoin course - the $ 40,000 mark has been broken. The rush for digital currencies like Bitcoin and Ethereum continues.

The trillion-dollar market value club has a new member: bitcoin. The total number of bitcoins trading are now collectively worth more than $1 trillion.

a close up of many different colors: This photograph taken on September 24, 2020 shows a physical imitation of a Bitcoin at a crypto currency © Ozan Kose/AFP/Getty Images This photograph taken on September 24, 2020 shows a physical imitation of a Bitcoin at a crypto currency "Bitcoin Change" shop, near Grand Bazaar, in Istanbul. (Photo by Ozan Kose/AFP/Getty Images)

That's because the price of a bitcoin hit a number of new all-time highs Friday. One bitcoin currently costs around $55,000 -- and there are about 18.6 million bitcoins in circulation according to Coinbase. (The total number of bitcoin eventually available is capped at 21 million.)

India Drafts Bill to Create Government Cryptocurrency, Ban Private Cryptocurrencies, with Exceptions

  India Drafts Bill to Create Government Cryptocurrency, Ban Private Cryptocurrencies, with Exceptions India's Parliament is expected to consider a bill to ban "private" cryptocurrencies, with some as yet unspecified exceptions, which would allow the government to create a state-sanctioned digital alternative. © Mukesh Gupta/reuters A bank teller counts stacks of 1,000 rupee banknotes inside a bank in Jammu, India, November 25. John Elliott writes that the cancellation of Rs1,000 ($14.80) and Rs500 notes was suddenly introduced by Prime Minister Narendra Modi on November 8.

Of course, it's not an apples-to-apples comparison to look at bitcoin versus big firms with sky-high valuations like Apple. But for what it's worth, only four companies in the United States currently are worth more than bitcoin: Apple, Microsoft, Amazon and Google owner Alphabet.

Bitcoin currently is worth about $225 billion more than Tesla, the company that is most responsible for the most recent surge in the cryptocurrency's price.

The Elon Musk-led electric car juggernaut announced earlier this month that it now owns $1.5 billion's worth of bitcoin in its corporate coffers. Tesla also said it was looking at letting consumers use bitcoin to buy its cars and SUVs.

That news has sparked speculation that other big companies may soon add bitcoin or other cryptocurrncies to their balance sheets, since bitcoin is generating a significantly higher return than bonds and cash.

Mark Cuban wants to become US president - if Bitcoin rises to 1 million US dollars

 Mark Cuban wants to become US president - if Bitcoin rises to 1 million US dollars In a recent tweet, self-made billionaire Mark Cuban announced that he would run for the office of US president when Bitcoin which has reached $ 1 million. In the past, the investor was critical of Bitcoin. © Provided by Finances.net DANIEL ROLAND / AFP / Getty Images • Mark Cuban wants to be US President if Bitcoin hits $ 1 million • JPMorgan analysts expect Bitcoin to rise to $ 146,000 • Cuban is critical of Bitcoin In a tweet, self-made billionaire and owner of the professional basketball tea

Corporate America is validating bitcoin. Payments giants Square and PayPal let their users buy and sell it. Credit card processing behemoths Visa and Mastercard are also embracing cryprocurrencies.

And a top strategist at BlackRock, the world's largest asset manager, said on CNBC this week that the company has "started to dabble" in bitcoin as an investment.

All this has helped spark a wave of buying by average investors. Consumer research firm Piplsay wrote in a report Thursday that half of the more than 30,000 consumers it surveyed this week about bitcoin said they felt it was "safe" to invest in cryptocurrencies.

Bitcoin prices have surged more than 80% so far this year, and investors are enthusiastically scooping up other cryptocurrencies as well. Ethereum, the world's second largest cryptocurrency with a total value of about $220 billion, has more than doubled this year.

And the price of dogecoin, a currency that originally started as a dog meme-based joke, also has skyrocketed this year following several bullish tweets about it by Musk and support from traders on Reddit.

ARK Analysts: "Bitcoin soon more valuable than gold" .
analysts of Ark Invest, the investment company of Financial Expert Cathie Wood, see Bitcoin on the best way to exceed the market capitalization of the precious metal gold "with ease". © Jaruwan Jaiyangyuen / Shutterstock Bitcoin on the way up. The current market capitalization of gold is ten trillion US dollars. The bitcoin has reached a trillion , the entire crypto diet area is two trillion.

usr: 1
This is interesting!