Bitcoin’s current bull run has served to push the world’s first and biggest cryptocurrency to a market capitalization of $1 trillion.
According to data from CoinMarketCap, the price of the digital currency has surged by over 8.8% in the past 24 hours, crossing a new all-time high (ATH) of $56,000.00 within that time frame.
Currently, the combined market capitalization of the global cryptocurrency market stands at $1.71 trillion. Bitcoin has proven to be a star digital asset in the crypto space, establishing itself as a unicorn responsible for more than 61% of the value of the entire cryptocurrencies. There are over 8,520 in all.
Institutional Buy-Ups Paid Off
The embrace of Bitcoin by institutional investors is paying off with a corresponding increase in price. A Bitcoin adoption cycle was notably kickstarted with a move from Jack Dorsey’s backed payment firm, Square Inc, and Michael Saylor’s business intelligence firm, MicroStrategy Inc. back in the second half of 2020.
