Bitcoin To The Moon: Flagship Cryptocurrency Passes 54k
-The price of digital coin, Bitcoin rose on Tuesday past $54,000
-The market capitalization of the crypto asset also surpassed $1 trillion following its jump
-The flagship crypto is up by 80% this year and 570% since March last year
Bitcoin traded above $54000 earlier today, after a 7% surge for the day.
The Market capitalization of the crypto asset surpassed $1 trillion following this rise.
This is the second time that the coin has reached $1 trillion after reaching the milestone in February this year.
Despite its huge rally, the flagship cryptocurrency is still sitting below its all-time high of $58,332 last month.
BTC rise has been attributed to a number of factors, including purchases from co-operations, and institutional investors.
MicroStrategy has been on a coin purchasing spree, having bought more than $4 billion worth of the flagship cryptocurrency.
Chinese App makers, Meitu also revealed that it had purchased BTC and Ether on Sunday.
Payment giant, Paypal purchased crypto security firm Curv with plans of integrating it on its platform.
Read also: Nigeria Experiences 15% Increase In P2P Bitcoin Transactions Following CBN Crypto Ban
Many people see Crypto assets as alternatives to fiat currencies and a hedge against inflation.
Follow Naija.fm on our social media handles Facebook, Instagram, and Twitter to keep up with trending news, breaking news, entertainment news, and hot gist.
