HomeCoinsBitcoin (BTC)Bitcoin's Watershed Moment- Crypto Asset Commands a $1 Trillion Market Capitalization –...

Bitcoin’s Watershed Moment- Crypto Asset Commands a $1 Trillion Market Capitalization – Markets and Prices Bitcoin News

- Advertisement -


Bitcoin’s market capitalization has crossed the $1 trillion zone after the price per coin surpassed $53,650 per unit. The valuation comes 145 months after the launch of the Bitcoin network on January 3, 2009.

‘The First Trillion Is the Hardest’

The price of bitcoin (BTC) has surpassed the territory needed to have a $1 trillion market capitalization. The valuation is a milestone to many crypto supporters who have rallied for the leading currency for the last decade. For the last two weeks, digital currency advocates discussed BTC’s slow and steady approach toward the 1 trillion dollar zone. For instance, on February 16, The Block’s director of research Larry Cermak said:

If Bitcoin hits ~$53,650, it’s gonna be a trillion-dollar asset. Fully diluted it’s already at $1.04T.

1613749677 704 Bitcoins Watershed Moment Crypto Asset Commands a 1 Trillion Market
At 10:42 a.m. (EST) the price of BTC touched an all-time high at $53,743.

The conversation about reaching the 1 trillion dollar milestone was a topical conversation all week, as bitcoiners said it was a long time coming. The same day, the software developer, Jameson Lopp, also talked about the $1 trillion event on social media. “The first trillion is the hardest,” Lopp tweeted to his 262,000 followers.

‘Bitcoin Going for Gold Next’

After Lopp made his statement, a number of people compared the decentralized crypto asset’s market valuation to Apple Inc. (AAPL).

It took Apple Inc. around 504 months (42.0319 years) to get to a $1 trillion market valuation one person responded. Another individual mentioned that after Apple captured the $1 trillion valuation, it only took 26 months to reach $2 trillion, which means the ride to a $2 trillion valuation for bitcoin (BTC) very well could be a far less time frame.

Bitcoin reaching a $1 trillion valuation has been a big deal to a number of proponents and many believe the crypto asset is just warming up. The popular creator of the stock-to-flow (S2F) model, Plan B, discussed the watershed moment.

“Straight line up to a $1trillion market cap,” he said to his 269,000 followers. “Bitcoin going for gold next ($10T),” he insisted.

Civic founder Vinny Lingham, often referred to as the oracle, thinks making it to the $60,000 zone might be in the cards.

“Bitcoin looks primed to make a big break above $50k,” Lingham wrote just before the price surpassed the $50k handle. “Once it clears, it will likely test and break $60k quickly. We could find out which [altcoins] are uncorrelated, as there will likely be some carnage in the alt market, if such a big move materializes,” Lingham added.

What do you think about bitcoin reaching a $1 trillion market valuation? Let us know what you think in the comments section below.

Tags in this story
$1 Trillion Market Cap, $1T, 1 trillion, aapl, Apple, Bitcoin, Bitcoin (BTC), Crypto asset, Cryptocurrency, Jameson Lopp, Larry Cermak, Market Cap, Market Valuation, Plan B, Trillion dollars, Vinny Lingham

Image Credits: Shutterstock, Pixabay, Wiki Commons, Bitcoin Wisdom,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





Source link

- Advertisement -
profile logo 500x500
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,494FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 44,007.00
ethereum
Ethereum (ETH) $ 3,144.29
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 511.10
litecoin
Litecoin (LTC) $ 152.98
eos
EOS (EOS) $ 4.05
okb
OKB (OKB) $ 12.90
tezos
Tezos (XTZ) $ 6.55
leo-token
LEO Token (LEO) $ 2.84
cardano
Cardano (ADA) $ 2.24
monero
Monero (XMR) $ 239.76
stellar
Stellar (XLM) $ 0.281052
chainlink
Chainlink (LINK) $ 25.06
huobi-token
Huobi Token (HT) $ 7.34
tron
TRON (TRX) $ 0.089395
usd-coin
USD Coin (USDC) $ 1.01
dash
Dash (DASH) $ 165.41
neo
NEO (NEO) $ 39.33
iota
IOTA (MIOTA) $ 1.19
nem
NEM (XEM) $ 0.150614
zcash
Zcash (ZEC) $ 112.95
maker
Maker (MKR) $ 2,398.22
paxos-standard
Pax Dollar (USDP) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 48.06
vechain
VeChain (VET) $ 0.093159
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 57.05
kucoin-shares
KuCoin Token (KCS) $ 10.84
waves
Waves (WAVES) $ 24.39