Bitcoin shoots past $40,000 for the first time ever

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Bitcoin's price has exceeded the $40,000 mark for the first time.

As of the time of writing, bitcoin is changing hands at roughly $38,800 on Coinbase, per price data from the exchange. Coinbase saw a high above $40,400.

The movement above $40,000 — and the drop from that level — was similarly reflected by data published on TradingView:

On Wednesday, the collective market capitalization for all cryptocurrencies exceeded $1 trillion for the first time, according to data published by CoinGecko.

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May 5, 2022, 3:17PM UTC