Analysis

The milestone isn’t just psychological, and potentially opens entire new groups of investors who couldn’t participate previously.

This episode is sponsored by Nexo.io.

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Bitcoin is officially a $1T asset. As the price surged over $54,000, the total market cap of bitcoin reached the new all-time high.

In this episode, NLW explores the significance of the milestone, arguing:

  • There has been a slate of good news, from BlackRock rumblings to Canadian ETFs that have been driving recent price action
  • There are a variety of institutions that couldn’t allocate to the space before because it was too small but which are now in play
  • In the wake of the milestone, we’re likely to see more research house FUD
  • We’re also likely to see a number of major bitcoin positions announced in the days to come

See also: Bitcoin Market Value Tops $1T as Price Passes $53,697

Image credit: uzenzen/iStock/Getty Images Plus

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