Friday 19th February 2021
A trillion dollars in sight
Bitcoin is close to the sound barrier
All Bitcoins combined are worth almost 960 billion dollars. Since the beginning of the year, the price has shot up. While Bitcoin supporters celebrate, skeptics warn of a speculative bubble.
Bitcoin currently only seems to know one direction: up. The cryptocurrency costs just under 52,000 dollars – so the theoretical value of all Bitcoin combined is almost a trillion dollars.
According to the Bloomberg news agency, its market capitalization is currently $ 956 billion. This year alone it has grown by $ 415 billion. The "crypto index" compiled by Bloomberg has more than doubled since the beginning of the year.
Just two months ago, Bitcoin had hit its previous record of 2017 and shot over $ 20,000. Shortly thereafter, the cryptocurrency jumped the hurdles at $ 30,000 and $ 40,000 and also cracked the 50,000 on Tuesday.
There are two explanations for this development. For crypto fans, the price jump is due to the increasing acceptance of Bitcoin as an alternative to currencies such as dollars and euros. They also see it as a remedy against the threat of inflation. Skeptics consider the rapid upward trend to be a pure speculative bubble that will burst sooner or later.
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