A First in Bitcoin! Will Gold Be His Throne?

Interest in cryptocurrencies has increased so much that the market value of Bitcoin has exceeded $ 1 trillion for the first time. Bitcoin is likely to push the $ 10 trillion market value of gold, the oldest investment instrument in history, at this speed.

Almost everyone is interested in crypto money, which has become an investment tool recently. Interest has increased so much that now we are talking about values in excess of trillion dollars. Interest in the cryptocurrency market has pushed Bitcoin's market value to over $ 1 trillion. With the impact of the statements and purchases of some multinational companies and banks to support the crypto currency, Bitcoin's price continues to break record after record in recent weeks.


The value of the digital currency rose rapidly after the US electric car manufacturer Tesla announced that it has invested $ 1.5 billion in Bitcoin and Mastercard and Bank of New York Mellon took steps to facilitate the use of crypto currencies. The price of Bitcoin, the first cryptocurrency, was $ 0.30 in 2011, while it has now exceeded $ 55,000. Bitcoin's price has gained around 17 percent this week alone. Since the beginning of 2020, the increase has been 681 percent. The market capitalization of the crypto currency to reach $ 1 trillion is considered an important turning point. This year, Bitcoin's market cap has risen by more than $ 450 billion.


It is estimated that gold has a global market value of 10 trillion dollars. Can Bitcoin reach this figure? Or, it is not known how long it will arrive, but it is not impossible for Bitcoin, which is likened to gold at its exit, to reach these values. The reason gold is so valuable is because the supply is predictable. Bitcoin has hovered above $ 50,000, greatly outpacing gold. The situation is not much different with altcoins. Ethereum is breaking records and exceeding $ 2,000. The market value is at the level of 233 billion dollars. It has gained 172 percent since the beginning of the year. The market value of all cryptocurrencies has more than doubled from $ 800 billion to about $ 2 trillion.


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