Bitcoin's market cap value again topped US $ 1 trillion or the equivalent of Rp.14,300 trillion in today's trade, according to CoinDesk. This is because the price of this most popular cryptocurrency has strengthened.
Bitcoin reached the highest price in the last 24 hours at US $ 54,348.57 per coin, up 7% from the price the day before. Bitcoin's all-time high price of around US $ 58,000 per coin reached last month.
This is the second time Bitcoin's value has surpassed US $ 1 trillion. The first time this achievement was achieved was on February 19, 2021. The market capitalization of above US $ 1 trillion lasted a few days later to fall below that, reported CNBC International,
Bitcoin's price rally has been associated with an influx of large institutional investors into cryptocurrency. It is noted that Tesla, Square, and MicroStrategy have bought Bitcoin and made it one of the company's assets.
Some argue that loose monetary policies such as low interest rates and asset purchases by central banks around the world are eroding the value of fiat currencies such as the US dollar and bitcoin providing better alternatives to investing.
Proponents of bitcoin often refer to this digital one as "digital gold", a hedge against inflation and a potential "safe-haven" asset where investors can park their money in times of political or economic turmoil.
According to the Statista research institute, in 2020, there are four companies with market capitalization of over US $ 1 trillion. In first place is Saudi Aramco (an oil company from Saudi Arabia) which has a market capitalization of US $ 1.7 trillion.
Next up are Microsoft with a market capitalization of US $ 1.4 trillion, Apple of US $ 1.3 trillion and Amazon of US $ 1.2 trillion.
