Fun

Bitcoin’s Watershed Moment- Crypto Asset Now Commands a $1 Trillion Market Capitalization

News Feed - 2021-02-20 12:02:55

Bitcoin"s Watershed Moment- Crypto Asset Now Commands a $1 Trillion Market Capitalization


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. 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. World’s Largest Asset Manager Blackrock Enters Bitcoin Space — Discusses What"s Driving Up BTC Price MARKETS AND PRICES | 6 hours ago Peter Schiff Admits Bitcoin Could Reach $100K After BTC Price Soars Past His Expectations MARKETS AND PRICES | 2 days ago 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, Spot-markets for Bitcoin, Bitcoin Cash, Ripple, Litecoin and more. Start your trading here. 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. Read disclaimerShow comments

News Feed

Binance helps Taiwan solve $6.2M crypto fraud
Amaka Nwaokocha13 hours agoBinance helps Taiwan solve $6.2M crypto fraudWorking with Binance, Taiwan prosecutors pieced together the evidence, resulting in the indictment of nine individuals for financial crimes, includi
Russia’s Interior Ministry Employs Tool to Identify Crypto Wallet Owners, Track Transactions
Russia’s Interior Ministry Employs Tool to Identify Crypto Wallet Owners, Track Transactions The Russian Ministry of Internal Affairs is now using a digital tool allowing officer
Ezra Reguerra10 hours agoRipple joins BIS cross-border payments task forceThe task force is a part of the Bank of International Settlements’ Committee on Payments and Market Infrastructure.2540 Total views16 Total shar
Ore creator proposes rewards to tackle Solana congestion
Amaka Nwaokocha1 hour agoOre creator proposes rewards to tackle Solana congestionHardhat Chad clarified that he isn’t looking for funds from the foundation; his goal for Ore is to establish a currency, not develop test
Biggest Movers: SHIB Rebounds on Saturday, as ATOM Moves Away From 3-Week Low
Biggest Movers: SHIB Rebounds on Saturday, as ATOM Moves Away From 3-Week Low Following three consecutive days of declines, shiba inu rebounded on Saturday, as the meme coin appear
Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’
Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is "Currently Preparing to Make Repayments" On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a
Analyst Says XRP Price Will Outperform Bitcoin And Ethereum, Reveals ‘Secret Under The Hood’
Este artículo también está disponible en español. Crypto analyst Egrag Cryptohas boldly predicted that the XRP price will outperform Bitcoin and Ethereum. The analyst pro
XRP Price Is Eyeing Another Breakout To $4: Analyst Says Watch This Level
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Derek Andersen7 hours agoIRS releases draft of proposed reporting rules for digital asset brokersHouse Financial Service Committee Chair Patrick McHenry said the rules are part of “the Biden Administration’s ongoing
Hong Kong shows off crypto, Web3 prowess in Toronto
Arijit Sarkar55 minutes agoHong Kong shows off crypto, Web3 prowess in TorontoCanadian crypto and Web3 startups could benefit from “lower taxes” and regulations that cater to “pre-commercial specialist technology c
McDonald’s metaverse in Singapore, South Korea classifies NFTs as virtual assets: Nifty Newsletter
Ezra Reguerra5 hours agoMcDonald’s metaverse in Singapore, South Korea classifies NFTs as virtual assets: Nifty NewsletterNFT sales surge volumes across various platforms and blockchains, with Bitcoin-based digital col
Bitcoin’s Flash Rally to $10,400 was “Fake”, Short the Cryptocurrency, Warns Renowned Trader Bollinger
Bitcoin"s Flash Rally to $10,400 was "Fake", Short the Cryptocurrency, Warns Renowned Trader BollingerLong time trader John Bollinger has warned that bitcoin’s flash rally to