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.
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.