Bitcoin (BTC) hit a new all-time high above $28,000 on Sunday, December 27. Total capitalization exceeds half a trillion dollars.
Bitcoin has once again reached a new record briefly exceeding $28,000. According to trading view, the new high was recorded at 28,415 dollars around noon, an increase of almost 14% in the last 24 hours.
The latest move represents an increase in the price of Bitcoin of nearly $5,000 in two days and a 25% increase over the past week.
11th world capitalization
At its peak, Bitcoin’s total capitalization reached $528 billion, or $68 billion more than Visa. The most famous cryptocurrency also exceeds the capitalizations of MasterCard, JP Morgan, LVMH, Coca-Cola or Samsung.
Thus, if we compare the capitalization of BTC to the largest market caps in the world, bitcoin would be placed in the eleventh position just behind Berkshire Hathaway, the company of Warren Buffet.
If BTC had stolen 10th place in the rankings from Berkshire Hathaway, it would surely have angered the famous financier, who called Bitcoin “rat poison”. He also told his shareholders in 2018 that cryptocurrency trading was “madness.”
Record then sudden fall
A sharp drop in price followed this new record. The price rose from 28,415 dollars to 26,592 dollars, a drop of more than 6% in less than 1 hour.
BTC is trading at $27,255 at the time of writing these article.
Source: Naija News