Bitcoin hits $1 trillion in market valuation for the first time

NEW DELHI: Bitcoin on Friday became the first digital currency in the world to hit a market valuation of $1 trillion after it the $53,683 level, as per cryptocurrency tracker CoinGecko. The crypto asset was trading at $53,734, up 4% at around 9.15pm IST.

Prices have quadrupled over the past year and a breakthrough was seen at $52,000 this week. It took less than two months to reach this mark from the price point of $25,000 by the end of December 2020.

“If bitcoin continues its current run, it won’t come as a surprise if it crosses $100,000 mark sooner than later. There is tremendous interest in digital assets, which we are seeing almost every day in the space, both in retail and institutional.