Bitcoin's market capitalization has reached $2.4 trillion, exceeding the combined market value of the top 5 banks in the world by $350 billion. Over the past 5 years, Bitcoin's price has appreciated by over 1,000%, while the largest banks have generated much lower returns. The interest in Bitcoin is driven by institutional demand and its use as a new store of value.
Bitcoin's market capitalization has reached an impressive $2.4 trillion, surpassing the combined market value of the top five banks in the world by $350 billion. This remarkable milestone underscores Bitcoin's meteoric rise over the past five years, during which its price has appreciated by over 1,000%
Bitcoin miners’ market capitalization hits new record[1]. In contrast, the largest banks have generated significantly lower returns.
The surge in Bitcoin's market cap is driven primarily by institutional demand and its growing role as a new store of value. According to recent data, Bitcoin ETF inflows totaled $2.25 billion in just four days, with top performers including BlackRock, Fidelity, and ARK 21Shares
Bitcoin Price Analysis: BTC Crosses $120,000 For The First Time Since Mid-August[2]. This renewed institutional confidence has fueled Bitcoin's rally, pushing its price above $120,000 for the first time since mid-August.
Bitcoin's network hash rate has also reached a new high of 1.2 zetahashes per second, demonstrating the mining sector's strong industrial standing
Bitcoin miners’ market capitalization hits new record[1]. This has been supported by the investment in high-performance computing (HPC) by major mining operations such as Marathon Digital and Riot Platforms, which have significantly boosted their market caps.
The Bitcoin mining industry has experienced a robust September, with the total value of major publicly traded miners rising to $58.1 billion, up 40% from August’s $41.6 billion
Bitcoin miners’ market capitalization hits new record[1]. Firms like IREN, Cipher, and Applied Digital led the surge, with IREN leading the pack with a 624% surge. Other notable performers include TeraWulf (WULF), Hut 8 (HUT), and Bitfarms (BITF), which saw increases between 179% and 280%.
Despite recent volatility, Bitcoin's technical indicators remain bullish, with the Relative Strength Index (RSI) around 70 and the MACD displaying a bullish bias
Bitcoin Price Analysis: BTC Crosses $120,000 For The First Time Since Mid-August[2]. This suggests that prices could push higher, potentially leading to new all-time highs.
The surge in Bitcoin's market cap is a testament to its growing acceptance as a legitimate asset class. As institutional demand continues to increase, Bitcoin's market cap is likely to remain a key indicator of its overall health and potential for future growth.
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