The most popular digital asset in the world, Bitcoin (BTC), has a relatively unknown reputation in both the traditional and cryptocurrency financial ecosystems. The skyrocketing price of Bitcoin adds even more significance to this accomplishment.
Bitcoin’s increasing relevance
Prominent cryptocurrency expert Fred Krueger claims that Bitcoin is the asset that will reach the $1 trillion milestone the quickest. Krueger shared a graphic on X that displayed ten assets with values over $1 trillion. The information indicates that Bitcoin became the fastest asset to attain a $1 trillion valuation, taking 12 years to do it.
Bitcoin, which reached the $1 trillion milestone 17 years after its debut, is followed by Meta Platforms. Elon Musk’s Tesla and Alphabet, which reached $1 trillion in 18 and 22 years, respectively, are next on the list. Longstanding natural gas and petroleum giant Saudi Aramco, which reached $1 trillion in 86 years, came in at number ten.
Interestingly, at 176.54%, the top cryptocurrency had the greatest Compound Annual Growth Rate (CAGR). CAGR calculates the yearly growth rate of an investment over time while accounting for compounding. As a result, according to Bitcoin’s most recent CAGR, investors have made 176.54% more money in the last year. Given that well-known companies like Microsoft reported a CAGR of 31.97%, this is a significant accomplishment for Bitcoin.
The success of Bitcoin among these respectable international businesses demonstrates how traders and investors are increasingly using it. The price of Bitcoin has risen 19.7% in the last reporting week, which has encouraged investors.
Bitcoin’s price and what to expect
According to U.Today, earlier today, Bitcoin hit an all-time high of $82,400 before seeing a little decline. Bitcoin is currently trading at $81,912, up 2.4% over the past day, and has a $1.6 trillion market capitalisation. The eagerness of investors to amass the coin was demonstrated by the daily trading volume, which rose by 35.7% to almost $80 billion.
Jason Calacanis, a well-known American angel investor, said that Bitcoin may tumble to zero, despite the fact that the market is still optimistic. With a likelihood of less than 5%, such a situation appears quite implausible.
