Bitcoin capitalization reaches 10% of the gold market
As a result of the recent surge, Bitcoin’s market capitalization has surpassed $ 1 trillion, which is about 10% of the value of all gold mined.
Currently, the gold market is estimated at $ 10-11 trillion. Yesterday, the BTC rate set a new all-time high, rising to $ 58,220 (100% since the beginning of 2021). During this period, its capitalization exceeded $ 1.1 trillion.
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Despite the beginning of the correction, at the time of publication, the price of bitcoin fluctuates in the range of $ 54-55 thousand, and the market value still exceeds $ 1 trillion.
Positive dynamics and growth in recognition are attracting more and more investors to the market who buy cryptocurrency as a tool to hedge against inflation. In addition to diversifying risks, they make good money on it.
For example, an analyst at Wedbush Securities estimates that Tesla’s January investment of $ 1.5 billion in bitcoin exceeded it more profit than sales of electric vehicles for the entire last year. In January, the BTC rate ranged from $ 29 to $ 37 thousand, and earnings from the company’s main activities in 2020 amounted to 721 million.