30 Second Cryptocurrency Price Summary
Current Bitcoin Price: $55,598
Bitcoin price hit yet another all-time high over the weekend, surpassing the $58,000 mark. Price has since cooled off, however the coin’s market cap remains above the $1 trillion milestone.
Top-20 altcoins have had mixed performance over the last 24 hours, as Ethereum drops 3%, XRP gains 12% and NEM rises 15%.
Top Stories for February 22, 2021
Bitcoin has reached a $1 trillion market cap for the first time in history, after a 60% rise over the last month of trading.
Analysts continue to credit institutional buying as the main reason for the cryptocurrency’s monster bull-run, as companies such as Tesla join in on the fun.
Business intelligence firm MicroStrategy says it has completed a $1.05 billion raise, which will be used to fund the purchase of more Bitcoin.
It has only been a matter of days since the company revealed its debt offering plans, which promised investors a 0% coupon and 50% conversion premium.
Bloomberg analyst Eric Balchunas has predicted that the new Canadian Purpose Bitcoin fund could hit $1 billion in assets under management by Friday.
The exchange traded fund (ETF) reached more than $400 million in volume within its first two days, with expectations that it will rise even further.
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Source: Bitcoin Reaches Trillion Market Cap For First Time Ever – February 22