Bitcoin's total market value exceeds US $1 trillion: this year's price may exceed US $100000

 On February 19, the price of bitcoin continued to reach a new high, and the total market value of bitcoin reached one trillion US dollars. Bitcoin hit an all-time high of $55772 on Friday, up 13% this week. In February, bitcoin's value has risen 66%.

An important reason for the sharp rise in the value of bitcoin is that the market believes that bitcoin may become more and more mainstream in the society and become a more recognized payment tool. Recently, Tesla, MasterCard and bny Mellon, the US electric vehicle manufacturer, have announced their support for bitcoin trading.

With regard to the soaring price of bitcoin, Mike Novogratz, founder of Galaxy digital, said that bitcoin will more than double to US $100000 by the end of this year. As more companies allow customers to use the token to purchase, the price of bitcoin will be higher.

As we all know, bitcoin is not issued by a national central bank, but generated by computer algorithm, and the total amount of money and growth is limited. "Gold miners" all over the world have used computers installed with software ("mining machines") to obtain bitcoin. Therefore, the total market value of bitcoin can also be calculated according to the latest price.

John Wu, President of AVA labs, a financial technology company, said that if people think bitcoin is valuable, there is still room for growth in the future. If you look at gold around the world, the total size of assets is about $9 to $10 trillion. Even if bitcoin gets half of the market value of gold, it means that there is still four times more room to rise, that is, the value of the currency will rise to $200000. "I don't know when the rise will stop.".

Jacob skaaning, investment manager, said that the next milestone in bitcoin's market value will exceed the current market value of Google's parent company, alphabet, which is $1.43 trillion. "There will be price fluctuations in the future, but I'm still very optimistic, and I believe the upward channel will continue."