Bitcoin has set a new record by reaching a price of $89,517 and surpassing silver with a market capitalization of $1.735 trillion, solidifying its position as a leading global asset.
Bitcoin's Price and Market Cap Surge
Bitcoin reached an all-time high of $89,517, pushing its market cap to $1.735 trillion. This increase is driven by growing institutional interest and demand for spot Bitcoin ETFs.
Surpassing Silver and Investor Reactions
Silver's market cap decreased by 6.24% to $1.732 trillion over the past week, while Bitcoin rose 30%. Investors increasingly view Bitcoin as a stable store of value. El Salvador has profited over $119 million from its Bitcoin investments.
Political Factors and Bitcoin's Future
The Bitcoin rally is linked to shifts in U.S. politics favoring pro-crypto lawmakers. Furthermore, companies like MicroStrategy and Coinbase have reported record trading volumes of $38 billion.
Bitcoin continues to solidify its position in the global market, attracting the interest of investors seeking alternative investment options amid political changes and market uncertainties.
