Crypto Market Surges Above $2 Trillion As Bitcoin Passes $60,000

• The value of the global crypto market went above $2 Trillion on Saturday Morning, a 3.85% increase over the last day

• Bitcoin bounced above $60,500 again after consolidating below the $60k landmark for days

• Investors have been moving money into Bitcoin as a hedge against inflation

The global value of the crypto market has gone beyond $2 trillion, following a 3.85% increase in the last 24 hours.

Flagship cryptocurrency, Bitcoin was a major catalyst for this surge after it went above the $60,000 price level.

At the time of this report, the value of the global cryptocurrency market stands at $2.05 trillion. Bitcoin has a market value of $1.123 trillion.

The rise of cryptocurrency is as a result of investors moving their funds into cryptocurrency to stay ahead of inflation.

In addition, Microstrategy now has 91,579 BTC, worth $5.5 Billion in the current market.

Elon Musk’s Tesla also holds 32,608 BTC after investing $1.5 billion earlier this year.

Read also: Meet Billionaires, Winklevoss Twins Who Made $6 Billion From Bitcoin

This serves as a hint that more global brands may invest in the cryptocurrency amid fears that only 21 million Bitcoins will ever exist.

At one time of this report, Bitcoin is trading at $60,559, up 3.53% in the last 24 hours.

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.