Within the last hour, Bitcoin’s market capitalization pushed above the $1 trillion level. This milestone occurred less than a year after its market cap dipped below $100 billion on Black Thursday and the move to a new all-time high took place right as BTC price is on the verge of overtaking $55,000.
Bitcoin market cap in USD. Source: TradingView
The significance of this event will not be lost of those working in financial as only a handful of assets ever achieve this status. While Bitcoin may have started as a mere curiosity in 2009, it only took it 12 years to become a global asset with a $1 trillion market capitalization.
For those unfamiliar with Bitcoin’s unique price history, 10,000 BTC were auctioned at the Bitcointalk.org forum in March 2010 for $50, but no buyer was found.
Two months later, Laszlo Hanyecz bought two pizzas for 10,000 BTC, and the rest is history. Thus, during its first sixteen months of existence, Bitcoin was something between a collectible with no monetary value and an experiment among enthusiasts.