Finally, Bitcoin’s market cap has hit $1 trillion after the leading crypto asset reached a new all-time high of $54,831.31 on Coinmarketcap. The asset was able to get to this milestone by leveraging on its bull run in the last one week where we saw the entrance of major institutions like Tesla, BNY Mellon and others investing in the industry.
The $1 trillion market cap is notable due to the fact that less than a year ago, its market cap had dipped below $100 billion on a Black Thursday. It is also worthy to note that only few assets have ever been able to achieve this feat.
In just over a decade, Bitcoin has grown from a crypto coin that had little to no value to being a global asset that has transformed the financial industry. Not only that, its price performance and adoption rate has left many in its wake and it has turned many skeptics into believers.
Today, there are only seven tradable assets, alongside the crypto king, that has a market capitalization that is over $1 trillion. The list includes big global technological institutions like: Amazon, the leading e-commerce platform in the world; iPhone maker Apple; Google’s parent company, Alphabet; the official oil company of Saudi Arabia, Saudi Aramco; and two precious metals -gold and silver.
In comparison with these technological companies, it has taken Bitcoin a considerably lesser time to hit the $1 trillion mark as the asset is just 12 years old.