Cryptocurrency Hits New Milestone, Doubling in Value Since July
Bitcoin has surged to an all-time high, surpassing $68,500 for the first time in its history, amid a record-breaking rally. This marks an extraordinary 350 percent increase in value over the past year, with the cryptocurrency continuing its impressive ascent.
On Wednesday, other major cryptocurrencies, including Ethereum (ether), also reached record levels, pushing the overall crypto market close to a $3 trillion valuation. This market cap now exceeds the combined value of the world’s 12 largest banks.
Bitcoin’s soaring price has not only solidified its position as a dominant force in the financial world but also propelled it into the ranks of the world’s most valuable currencies. It now boasts a market cap larger than the Swiss Franc and Russian Ruble, making it the 13th most valuable currency globally.
