Bitcoin surpassed the key price of $ 53,670 leading to the important milestone.
Only four public companies in the US, and Saudi Aramco, outperform Bitcoin.
Bitcoin achieved this Friday, February 19, an important milestone within its current bullish cycle, surpassing 1 trillion dollars in market capitalization ($ 1 trillion according to the Anglo-Saxon way). After breaking above $ 52,000 on Wednesday afternoon, the price crossed the key value of $ 53,670 around 12:00 (UTC-4) to bring the market capitalization above the iconic trillion dollar barrier.
At the time of writing, bitcoin is trading at USD 53,774, bringing its capitalization to USD 1,001,651 million, or USD 1,002 billion. This places Bitcoin in the list of the 8 assets with the highest capitalization value (including gold and silver), and among the six most valuable companies in the world.
Coingecko recorded at 11:49 a.m. that Bitcoin’s market capitalization had exceeded $ 1 trillion. Source: Coingecko.
New institutional push towards bitcoin
This Wednesday, new adhesions to Bitcoin as an institutional investment vehicle were manifested, which could have contributed to boost the price of bitcoin.
Among the most important, CriptoNoticias highlighted the interest in bitcoin of the world’s largest asset management firm, BlackRock. Its Investment Director, Rick Rieder, hinted that they have decided to invest in bitcoin, although he did not offer details about amounts or the incidence of this incursion in its operations.
Also, the New York Digital Investment Group (NYDIG) and investment bank Morgan Stanley filed a request with the SEC for a new ETF proposal on Wednesday. No less important was MicroStrategy’s new debt issuance announcement to acquire more bitcoin, this time for $ 600 million, extendable to $ 900 million.
The price of bitcoin should exceed $ 76,800 to displace Google as the fifth most valuable company. Source: companiesmarketcap.com
Bitcoin would have to appreciate approximately 40% from now to challenge Alphabet (Google) for the fifth place among the most valuable companies in the world. Upon surpassing $ 76,000, bitcoin would achieve that milestone and the seventh highest-capitalization asset, including precious metals.