$1 Trillion Market Cap Recorded: BTC Hits New Milestone

The $1 trillion market cap level has just been recorded by the number one cryptocurrency- Bitcoin, marking a new milestone after the coin traded at $54,000 a day ago. Bitcoin has a circulating supply of more than 18.6 million BTC and in today’s Bitcoin news, we discuss what it means for the crypto as well as for the entire market.

It was only a few months ago when the market cap reached levels with the likes of Visa and Mastercard while a week ago It beat Tesla’s cap after the company announced it has purchased $1.5 billion BTC to add to the company’s reserves. Now, it has set another major milestone- hitting the $1 trillion market cap level.  From being practically worthless, the network and the asset is valued at a trillion dollars and it’s just amazing how it managed to get here. Anyone who saw this coming is now being rewarded with a huge chunk of the pie. What’s even more impressive is that BTC increased from $100 billion in value a year ago on Black Thursday to ten times this value today.

The stock market stagnated and gold entered a downtrend as the capital flows into BTC instead. Now that BTC has a market cap of $1 trillion, it will start to demand a spot in portfolios in every worldwide investor. Bitcoin never had liquidity that is necessary for companies or institutions to pay attention to. Its market cap was considered small by comparison to the likes of stocks and gold but this is not the case anymore. This milestone is a key psychological level for investors but also for corporations because they will rush into the scarce asset.

Most signs point to BTC not having reached a mania point yet but after breaking above $1 trillion in market cap, the FOMO could pick up the momentum as higher wealth investors learn that they could be stuck paying higher prices if they don’t get in sooner. It could seem that bitcoin is overheated by most standards, the $1 trillion levels could reduce risks in the eyes of institutions.