The market value of bitcoin is close to a trillion, as the total value of all bitcoins surpassed $ 900 billion for the first time today, when the price reached new highs.

Bitstamp, one of the oldest bitcoin exchanges still in operation, recorded its maximum price of $ 49,000, bringing the market value to $ 912.69 billion. Bitcoin is currently priced at $ 47,250 per coin, up 5% over the past 24 hours and 28% over the past seven days.

The market value of $ 900 billion represents an increase of $ 354 billion in 2021 alone. Bitcoin’s previous full market value was set on February 8, when the value surpassed $ 888 billion.

Bitcoin currently accounts for 61% of the total market value of all cryptocurrencies, which also peaked when most altcoins were growing alongside bitcoins. The market value of all cryptocurrencies today peaked at $ 1.463 trillion, up 88.5% in 2021 after the start of the year at $ 776 billion.

Bitcoin is now ranked ninth in the world, surpassing Facebook and Tesla last week, according to CompaniesMarketCap, which ranks the world’s most traded assets by market value. When included in the list of countries by GDP, the Bitcoin currency stands at $ 900 billion between Mexico ($ 1.04 trillion) and the Netherlands ($ 886 billion).

Bitcoin’s new heights come on the day the first Bitcoin ETF is approved in North America, the same week the news broke, Tesla bought $ 1.5 billion in BTC, and in the midst of an increasingly friendly regulatory climate. to events related to cryptocurrency. and financial technology.

Earlier this month, the Biden administration raised a buzz in the cryptocurrency community by appointing some crypto-friendly people to leadership positions, indicating the possibility of a greater degree of collaboration between regulators and the blockchain-based organization.

Source: CoinTelegraph