According to the latest data from the CoinMarketCap resource, the market capitalization of the crypto market reached $2.24 trillion on Thursday morning. The most expensive digital currency in the world still contributes the most to the total cap. A day earlier, bitcoin updated two of its records at once. Its price soared above $64 thousand, and the cost of the entire project crossed the threshold of $1.2 trillion. Thus, by market capitalization, the coin was able to come closer to the silver indicator of $1.389 trillion and almost 1.5 times surpass Facebook, which is estimated today at $880 billion.
At the time of preparation of the material, the capitalization of BTC decreased to $1.18 trillion (according to the CoinMarketCap portal). This happened on the back of the fall of the asset: during the day, bitcoin lost more than 0.70% of its value. The coin was pushed down by the listing of shares of the Coinbase crypto exchange on the NASDAQ. On Thursday morning, the main cryptocurrency is trading at $63 thousand.
In view of the decline in the value of bitcoin, Ethereum, on the contrary, shows growth. During the day, the altcoin was able to rise in price by more than 5%: as of 04.50 UTC, the coin was worth $2,460, and its capitalization exceeded $284 billion.
Analysts are confident that the crypto market was able to achieve a new record in capitalization not only due to the increase in the value of the main digital asset, but also because of the rapid growth of other leading altcoins. Experts emphasize that the current leap forward and overtaking of Apple is a "collective" merit of the entire cryptocurrency market, not just BTC. With an indicator of $1.2 trillion, bitcoin is still difficult to compete on its own with such IT giants as Apple, Microsoft, Amazon, and Google. For comparison, the capitalization of Apple at the beginning of the year reached its maximum value of $2.4 trillion, the market value of Microsoft last week reached $1.9 trillion, Amazon hit $1.7 trillion, and Google got to $1.4 trillion. At the same time, experts do not belittle the achievements of the global crypto leader, drawing attention to the fact that bitcoin is the fastest sprinter in history on the way to a capitalization of $1 trillion. It only took 12 years for it to get over that mark. For other assets, it took much longer: Google spent 21 years, Amazon spent 24, Apple spent 42, and Microsoft spent 44.
Analysts have no doubt that the rapid growth in the capitalization of BTC indicates that investors are ready to invest in a new rapidly developing product. The attractiveness of bitcoin is growing in many countries, and simultaneously, the trust in it as a protective asset is also increasing. The head of the Swedish data center Six Nines Sergey Troshin believes that the current rally of the main cryptocurrency is ruled by large institutions. Recently, they have radically changed their attitude to BTC and began to actively introduce it into their investment plans and increasingly connect it to their operations.
According to the analyst, now is the golden time for bitcoin, when it has already passed a series of tedious corrections, finally got stronger, and can now come close to the next important stage, which is the $70 thousand mark. The expert is confident that the current scenario, unfolding against the backdrop of stimulating the US economy and the upcoming inflation, will not repeat the events of early 2018, which became the first symptoms of a prolonged crypto winter.