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(Seoul = Yonhap News) Reporter Gwiwon Lee = With the recent surge in Bitcoin, the market cap of all virtual currencies exceeded 1 trillion dollars (about 1,89 trillion won) for the first time in history, Bloomberg News reported on the 7th.
Bitcoin accounts for about two-thirds of the total cryptocurrency market cap.
According to the cryptocurrency site CoinDesk, as of this afternoon, the price of bitcoin was formed at the $37,000 level, a 25% increase from the end of last year.
Bitcoin has already quadrupled its price over the past year.
The price of Ethereum, which has a market capitalization of about 14% of virtual currency, has risen 62% this year.
Cryptocurrencies including bitcoin showed a sharp rise last year as institutional financial companies increased investment participation.
JPMorgan Chase, a global investment bank, recently predicted that if bitcoin is treated similarly to gold as an investment asset, its price could reach $146,000 in the long run.
However, there are still many views that raise questions about the value of Bitcoin.
Nouriel Rubini, a professor at New York University in the United States, appeared on Yahoo Finance Live on the 24th of last month and argued that “the price of bitcoin is entirely manipulated by a group of people,” saying it is “a speculative rise” related to the rise of Bitcoin.
Bitcoin surpassed $20,000 in 2017 as well, climbed to a record level at the time, and plunged to $3,000 in early 2019.
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2021/01/07 15:37 sent