Bitcoin’s market value surged above $ 1 trillion on Friday as the world’s largest cryptocurrency continued its breathtaking rally.
The milestone came when the price of a single Bitcoin rose to a new record of $ 54,827.69 just before noon, up 5.6 percent from the previous day. Show CoinDesk data.
That means that Bitcoin is now worth more than any other publicly traded company in the world, accounting for around 61 percent of the total value of all cryptocurrencies in circulation Coinmarketcap.com.
Bitcoin’s value has risen more than 82 percent since the beginning of this year as a growing number of institutional investors and large corporations began treating it as a mainstream asset.
The digital coin got a boost on Friday Elon Musk, CEO of Tesla, who said it was “a less stupid form of liquidity than cash”. Its electric car maker announced last week that it did bought $ 1.5 billion worth of Bitcoin and you plan to accept the cryptocurrency as payment.
Tesla is not alone – Mastercard said so expects to support certain crypto transactions BNY Mellon, the country’s oldest bank, recently announced it would provide banking services for cryptocurrencies and other digital assets.