Bitcoin Back in Trillion-Dollar Club After Reclaiming $54,000

Alex Dovbnya

Bitcoin's market cap has reached $1 trillion once again

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Tue, 9/03/2021 - 6:27

Bitcoin Back in Trillion-Dollar Club After Reclaiming $54,000

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Bitcoin's market cap has once again eclipsed the psychologically important $1 trillion mark after a sharp sell-off.

The cryptocurrency hit a two-week high of $54,400 6:04 a.m. UTC on the Bitstamp exchange.

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On Feb. 28, Bitcoin slipped to $43,000 after enduring its steepest crash since last March, but the bellwether coin went on to resume its rally in March.

The cryptocurrency's momentum was bolstered by the Senate greenlighting President Joe Biden's highly contested $1.9 trillion stimulus package. It has also benefited from a string of bullish news, such as oil billionaire Kjell Inge Rokke setting up a new unit for purchasing Bitcoin.

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About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.