Input 2021.04.06 07:34 | Revision 2021.04.06 14:08
At one time on this day, the combined market cap of virtual currency reached 2.2 trillion dollars (about 2280 trillion won). Bitcoin, a representative cryptocurrency, surpassed $1 trillion, while Ethereum also recorded a market total of $244 billion. The combined market cap of five cryptocurrencies, including Ethereum, was 422 billion dollars.
In particular, Bitcoin, which has more than doubled since this year, recently reached a new high at $61,000 each and fell below $60,000. However, even on this day, it traded at around $58,900, which is still high. An expert in the blockchain data industry said that the record market cap of $2 trillion is less than 1% of the total value that can be stored in the form of a block chain. “There is room for further increase in the market cap.”
Bloomberg analyzed that this is the result of an increase in institutional investors investing in cryptocurrencies in anticipation of high yields while countries maintain ultra-low interest rates after the Corona 19 pandemic.
Earlier, Tesla has invested $1 billion in the purchase of bitcoin out of its cash and announced that it will be able to pay for its electric cars with bitcoin. As a result, it is said that the global cryptocurrency investment has become even hotter.
Financial institutions such as Morgan Stanley, MasterCard, PayPal, and BNY Mellon have also accepted Bitcoin one after another. According to Reuters, Grayscale, the world’s largest cryptocurrency institutional investor, will launch a Bitcoin Listed Index Fund (ETF).