Since the beginning of February, the capitalization of the first cryptocurrency has increased by $400 billion
On February 19, the capitalization of bitcoin for the first time in history reached $1 trillion, according to DeFixBit.com. The cryptocurrency exchange rate reached $53.7 thousand. Since the beginning of the month, the capitalization of the digital coin has risen by $400 billion.
The latest wave of bitcoin growth began after the electric car manufacturer Tesla notified the US Securities and Exchange Commission (SEC) in early February about the purchase of bitcoins in the amount of $ 1.5 billion. The company also announced plans to start accepting payments in cryptocurrency. Later, the head of Tesla, Elon Musk, called this decision adventurous. He noted that the company’s actions do not directly reflect his views, and bitcoin is “simply a less stupid form of liquidity than saving in cash.”
Another high-profile event in the crypto market was the decision of the largest cryptocurrency owner among public companies, MicroStrategy, to increase its investment in bitcoin by $900 million.
“If the fundamentals of companies are closely linked to the movements of bitcoin, we will be in a bubble situation before we understand it,” warns Craig Erlam, senior market analyst at Oanda Europe, in a conversation with Bloomberg. At the same time, according to a survey of fund managers conducted by Bank of America, long positions on bitcoin (that is, bets that the asset will grow) are among the most popular.
The total capitalization of the cryptocurrency market is more than $ 1.6 trillion. According to this indicator, the crypto market is already ahead of the capitalization of Alphabet (the parent company of Google, $1.4 trillion), but lags behind Apple ($2.2 trillion), Microsoft ($1.8 trillion) and Amazon ($1.7 trillion).