Bitcoin Market Value Tops $1T as Price Passes $53,697

A year ago, bitcoin's market value was $178 billion.

Feb 19, 2021 at 3:40 p.m. UTC
Updated Sep 14, 2021 at 12:14 p.m. UTC

Bitcoin's total market value passed $1 trillion for the first time Friday as the leading cryptocurrency traded at new record highs above $53,697.65, per the CoinDesk Bitcoin Price Index.

  • The price of bitcoin rose to a new all-time high of $53,739.48 Friday morning as its total value past the 13-digit landmark, up roughly 3.6% in the last 24 hours.
  • Bitcoin has gained nearly 80% year to date, and the bullish market cycle isn't showing signs of peaking.
  • "Sure there are speculative excesses, like in all bull markets," Bloomberg senior commodity strategist Mike McGlone told CoinDesk in an email. "But the bitcoin tide is rising on the back of it becoming a global digital reserve asset."
  • The trillion-dollar market value comes after a flurry of new institutional investor interest from public companies like Tesla buying $1.5 billion in bitcoin, leading financial institutions like Deutsche Bank and BNY Mellon announcing crypto custody offerings, and bitcoin-laden business intelligence company MicroStrategy flush with $1.05 billion in fresh cash to buy even more of the cryptocurrency, per CoinDesk's prior reporting.
  • Bitcoin had a market value of $178 billion a year ago, according to TradingView data.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
Crypto Industry Battles to Exempt NFTs, DeFi From Tax Reporting Rules

The OECD is trying to introduce new rules to stop crypto being used to stash assets out of sight of the taxman.

The OECD is trying to introduce new rules to stop crypto being used to stash assets out of sight of the taxman.

CoinDesk - Unknown
2
CoinDesk - Unknown
Bitcoin mantiene el soporte en $27K-30K, con resistencia en $35K

Es probable que exista un breve rebote hacia una zona de alivio, similar a lo que ocurrió a finales de febrero y finales de marzo.

Es probable que exista un breve rebote hacia una zona de alivio, similar a lo que ocurrió a finales de febrero y finales de marzo.

CoinDesk - Unknown
3
CoinDesk - Unknown
How to Get Started in The Sandbox

Here's a step-by-step guide on what you need to know to explore and play in The Sandbox metaverse. This piece is part of CoinDesk's Metaverse Week.

Here's a step-by-step guide on what you need to know to explore and play in The Sandbox metaverse. This piece is part of CoinDesk's Metaverse Week.

CoinDesk - Unknown
4
CoinDesk - Unknown
Nexo

CoinDesk - Unknown