Cryptocurrency market capitalization above $1 trillion
Against the background of a sharp rise in BTC, ETH and other altcoins, the volume of cryptocurrency capitalization exceeded one trillion dollars
The path to this mark was supported by the government, retail and institutional investors:
- governments have been actively interested in national digital currencies (CBDCs);
- central banks began to directly study the possibilities of their implementation.
In 2020, the crypto industry as a whole has shown itself to be a viable alternative to traditional finance and investment vehicles. The technical foundation was laid for the future digital money. And this is just fine against the backdrop of the problems caused by the COVID-19 pandemic.
Institutional investors also provided good support to Bitcoin. These are companies such as:
- MicroStrategy, which spent over $425 million on BTC.
- Grayscale Investments, whose Grayscale Bitcoin Trust has grown to $10.8 billion in cryptocurrency.
When both governments and institutions are actively interested in and investing in the cryptocurrency sector, the general public does not stand aside either. Investors do not want to lose profits and jump on the bandwagon of the leaving tram.
Let's hope that the trend formed in 2020-2021 will only strengthen the position of Bitcoin and other cryptocurrencies. This will have a positive impact on the future of the entire industry!