Bitcoin's market cap crosses $1 trillion milestone for the first time
February 19, 2021, 10:39AM EST
1 min read
Bitcoin's market capitalization has crossed the $1 trillion milestone for the first time after over a decade's development as it gains increasing mainstream attention.
Bitcoin's price set new record highs above $53,700 around 15:45 UTC on Friday following a 4.1% 24-hour increase. It comes just days after it surpassed $50,000 for the first time.
Data from CoinGecko shows the circulating supply of bitcoin is around 18.63 million units as of writing, which, at the current price level, are worth $1 trillion.
The price movements follow an increasing number of investments into the asset class from mainstream institutions.
Tesla said in early February that it invested $1.5 billion in bitcoin in January as part of its treasury policy and said it may accept bitcoin as a payment method for its electronic cars.
MicroStrategy, the NASDAQ-listed business intelligence software company, first made headlines in August when it disclosed that it purchased 21,454 BTC using existing cash on its balance sheet at the time.
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