Bitcoin's market value tops US$1 trillion

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 99%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

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

That's because the price of a bitcoin hit a number of new all-time highs Friday. One bitcoin currently costs nearly $53,400 -- and there are about 18.6 million bitcoins in circulation according to Coinbase.

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. 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.

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Save yourself and your family and their future and start stacking bitcoin. You don’t have to buy a full one you can buy increments at your own pace

That’s great if you have money to gamble.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in SG

Singapore Singapore Latest News, Singapore Singapore Headlines