Bitcoin's Market Cap breaks $1 Trillion Once More
Bitcoin's Market Cap breaks$1 Trillion Once More
Bitcoin's (BTCUSD) market capitalization swelled to more than $1 trillion for the first time since December 2021 as it traded firmly above the $51,000 level Wednesday, even briefly going past $52,000
The maximum total supply of Bitcoin is 21 million. The number of Bitcoins issued will likely never reach 21 million due to the use of rounding operators in the Bitcoin codebase. No additional bitcoins will be generated when the Bitcoin supply reaches its upper limit.
Bitcoin has risen relatively steadily for the last week as inflows to new spot Bitcoin ETFs have picked up pace. Investors are also looking forward to an imminent halving, which is expected to happen sometime in April.
"In terms of statistics: With the circulating supply currently at 19,627,706 BTC, the original cryptocurrency reached a market cap of $1 trillion as it surged past $50,948. As per CoinGecko, BTC was trading at $51,936 at the time of writing, significantly surpassing that mark. In recent developments: Much of the renewed interest can be attributed to the introduction of bitcoin ETFs. Despite the SEC's reluctance, it eventually approved a series of offerings in January, albeit expressing reservations. The journey to this point was quite a saga. What's driving the momentum? According to CoinShares' data released on Monday, inflows into the new bitcoin ETFs have outpaced outflows by a considerable margin. Since their launch, these instruments have seen a net inflow of $2.8 billion, with $1.1 billion pouring in just last week."
What is the market cap of Bitcoin?
Bitcoin's (BTCUSD) market capitalization swelled to more than $1 trillion for the first time since December 2021 as it traded firmly above the $51,000 level Wednesday, even briefly going past $52,000
The maximum total supply of Bitcoin is 21 million. The number of Bitcoins issued will likely never reach 21 million due to the use of rounding operators in the Bitcoin codebase. No additional bitcoins will be generated when the Bitcoin supply reaches its upper limit.
Bitcoin has risen relatively steadily for the last week as inflows to new spot Bitcoin ETFs have picked up pace. Investors are also looking forward to an imminent halving, which is expected to happen sometime in April.
"In terms of statistics: With the circulating supply currently at 19,627,706 BTC, the original cryptocurrency reached a market cap of $1 trillion as it surged past $50,948. As per CoinGecko, BTC was trading at $51,936 at the time of writing, significantly surpassing that mark. In recent developments: Much of the renewed interest can be attributed to the introduction of bitcoin ETFs. Despite the SEC's reluctance, it eventually approved a series of offerings in January, albeit expressing reservations. The journey to this point was quite a saga. What's driving the momentum? According to CoinShares' data released on Monday, inflows into the new bitcoin ETFs have outpaced outflows by a considerable margin. Since their launch, these instruments have seen a net inflow of $2.8 billion, with $1.1 billion pouring in just last week."
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