Breaking Bitcoin Celebrates $1 Trillion Market Cap Milestone

Share Article
In Brief
  • Bitcoin has officially broken above a $1 trillion market cap.

  • This solidifies the asset's legitimacy.

  • Bitcoin has exploded in price within the last year as many are looking for a hedge against inflation and an alternative store of value.

  • promo

    KuCoin Releases KCS whitepaper – a Path for Geek to Mass Adoption Read now!

The Trust Project is an international consortium of news organizations building standards of transparency.

In what is perhaps its most significant value milestone to date, Bitcoin has officially passed $1 trillion in market capitalization for the first time.

With Bitcoin recently breaching $53,500, it has surpassed the $1 trillion market cap threshold.

Although Bitcoin has gained legitimacy as a true asset, this feat cements the borderless, permissionless, and immutable cryptocurrency in an elite club. As the number six most valuable asset in the world, it seems there is no turning back now.

Bitcoin Momentum Booming

Many factors have led to this monumental achievement. Corporations and legacy financial industries are now leading the way towards adoption.

During the previous bull run in 2017, when Bitcoin hit an all-time high price of around $20,000, retail investors dominated the market. Now, we have ultra-high-net-worth investors and institutions putting billions of dollars into the Bitcoin market.

Primarily beginning with Microstrategy CEO Michael Saylor (although there was some corporate involvement before), there is a new outlook on Bitcoin as a store of value. It’s still following the transfer of value narrative that Satoshi wanted Bitcoin to become, but many are currently looking at it as a hedge against inflation and government interference.

BTC Bitcoin Rally Bull

Considered by many to be a superior store of value than fiat currencies and precious metals due to its underlying fundamentals, many have begun to adopt the currency as a portion of their reserve assets. Tesla even purchased $1.5 billion worth of the asset.

This growth in adoption as in investment class is also driving other companies to try to capitalize on the opportunity. Many companies like PayPal and Mastercard have even begun to integrate cryptocurrencies into their businesses in a non-investment manner.

PayPal has opened up cryptocurrency purchasing, selling, and exchange options on its transactional services platform, and Mastercard will begin facilitating users’ cryptocurrency transactions this year. On their own, any of these factors would be an extremely bullish sign for Bitcoin. When combined, it paints a picture of the future usage and adoption of the cryptocurrency.

Room for Bitcoin to Grow

Just from the store of value side alone, Bitcoin has a lot of room to grow when compared to traditionally established markets.

Two of the most popular stores of value currently are gold and real estate, with gold alone amassing a market cap of over $10 trillion. If Bitcoin becomes a global store of value that competes with gold (excluding the real estate market for now), it still speaks to the massive amount of cash that could flow in from other more “stable” assets.

If money from other capital asset classes like stocks, bonds, and real estate moves into Bitcoin, the market cap could soar trillions of dollars higher. Add in the opportunity to be the global reserve currency and the possibilities are greater than ever.

Of course, Bitcoin is still an experiment and may never reach these levels, but a lot of big names are backing it as it passes this crucial milestone.


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Share Article

Harrison is an analyst, reporter, and lead specialist at BeInCrypto based out of Tel Aviv, Israel. Harrison has been involved in the cryptocurrency space since late 2016 and is passionate about decentralized ledger technology and its potential.

Follow Author

KuCoin Releases KCS whitepaper – a Path for Geek to Mass Adoption      

Read now

KuCoin Releases KCS whitepaper – a Path for Geek to Mass Adoption

Read now

Olympus, a P2E NFT Game Similar to Clash Royale, Is Making Headlines

Read Now