Bitcoin breaks above $50,000, pushing market cap closer to $1 trillion mark

Bitcoin’s price has jumped above $50,000 for the first time, pushing the network’s market capitalization a step closer towards the $1 trillion mark.

The price of bitcoin set new record highs above $50,000 around 12:30 UTC on Tuesday on Coinbase Pro after a 4.5% 24-hour increase. It’s now changing hands at $50,100 as of writing.

With the price movements, the market capitalization of the world’s largest cryptocurrency is around $927 billion, according to data from CoinGecko.

At bitcoin’s current circulating supply, it would take a price above $53,600 for bitcoin’s market capitalization to cross the milestone of $1 trillion.

 

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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