United

Bitcoin

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<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin’s market capitalization has reached a new all-time high.</li>
 <li>The surge is attributed to the approval of spot exchange-traded funds in the US.</li>
</ul>
<p>The market capitalization of the leading cryptocurrency, <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> has set a new record in terms of US dollars.</p>
<h2 id="bitcoin-s-market-cap-hits-new-high">Bitcoin’s Market Cap Hits New High</h2>
<p>The previous high for Bitcoin’s market cap was in November 2021, when it reached approximately $1.302 trillion. It then dropped to around $297.309 billion a year later, in November 2022, before climbing to new peaks today.</p>
<p>The market cap of Bitcoin reached $1.303 trillion as prices hit $66,405 at 14:57 UTC. At this time, there were 19,644,481 bitcoins in circulation.</p>
<h2 id="understanding-market-capitalization">Understanding Market Capitalization</h2>
<p>The market capitalization of a cryptocurrency is calculated by multiplying the total number of coins or tokens in circulation by the current price of a single coin or token. As a result, Bitcoin’s market cap tends to grow faster than its price, due to the continuous mining of new coins.</p>
<p>The recent rise in Bitcoin’s price is largely attributed to the approval of spot exchange-traded funds in the United States, which have seen significant inflows to date. Since the beginning of the year, Bitcoin’s total market capitalization has grown by over 135%.</p>

Bitcoin Market Cap Skyrockets to Unprecedented High in Over Two Years

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