Bitcoin Market Value Exceeds 1Trn For The First Time

Bitcoin hit a market value of more than $1tn for the first time on Friday.

The “mother of all Cryptocurrencies” rose 6.4% during trading on Friday to reach an all-time high above $55,000, and is believed to on track for a weekly gain of about 14%.

The surge took its market capitalisation – the value of all bitcoin in circulation – to more than $1tn, according to the data website CoinMarketCap.

On Wednesday, bitcoin burst through the $50,000 mark for the first time, as it continued to attract interest from mainstream investors and acceptance from financial institutions.