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Bitcoin's Market Cap Tops $1 Trillion as Price Reclaims $55K

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Wed, 10/06/2021 - 13:29
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Alex Dovbnya
Bitcoin is back in the $1 trillion club
Bitcoin's Market Cap Tops $1 Trillion as Price Reclaims $55K
Cover image via stock.adobe.com

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Bitcoin's market capitalization has once again surpassed the $1 trillion mark, with the price of the benchmark cryptocurrency exploding much higher.

The world's biggest cryptocurrency achieved the major milestone for the first time on Feb. 19.

Earlier today, BTC hit $55,499 on the Bitstamp exchange. This is the highest level since May 12, the day Tesla CEO Elon Musk announced that Tesla would stop accepting Bitcoin payments due to climate-related concerns.

The ongoing rally appears to be mainly Bitcoin-centric, with Ether and other leading altcoins so far failing to catch up with its impressive gains.

Related
Bitcoin Breaks Above $52,000 as Rally Continues
The ETH/BTC pair is down more than 4% over the past 24 hours.

Bitcoin is up roughly 30% over the past week.

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About the author

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.