The market value of bitcoin rises to $ 1 trillion as the rally continues

The market value of bitcoin as the world’s largest cryptocurrency surpassed the $ 1 trillion mark on Friday.

The milestone came in the form of a single bitcoin price, reaching a new all-time record of $ 54,827.69 shortly before noon, about 5.6 percent from the day before, CoinDesk data show.

This means that Bitcoin is now higher than all but one of the world’s publicly traded companies and accounts for around 61 percent of the combined value of all cryptocurrencies by trend.

The value of bitcoin has risen by more than 82 percent since the beginning of this year as a growing number of institutional investors and major companies have started treating it as a mainstream asset.

Digital Coin received a boost Friday from Tesla CEO Elon Musk, who said it was “a less dumb form of liquidity with cash.” His electric-car manufacturer announced last week that it had bought $ 1.5 billion worth of bitcoin and planned to accept cryptocurrency as payment.

Tesla is not alone – MasterCard said it expects to support some crypto transactions on its network this year, and BNY Mellon, the country’s oldest bank, recently announced that it would use cryptocurrencies and other digital assets Will start providing banking services.

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