Bitcoin's market value hits $1T for 1st time in over 2 years

Price of $51,000 was last seen in December 2021, Bitcoin's value rises almost 20% in past 7 days

By Ovunc Kutlu

ISTANBUL (AA) - Bitcoin saw its market value hitting the $1 trillion mark on Wednesday again after over two years.

It had a market capitalization of $1.015 trillion at 8.33 a.m. EDT (1333GMT), according to data from CoinMarketCap, a digital asset price-tracking website.

That level was last recorded in November 2021.

Bitcoin's price, in addition, was above $51,700 at the time for a daily gain of 4.1%. The $51,000 price level was last seen in December 2021.

The world's biggest cryptocurrency saw its value increase almost 20% in the past seven days,

The price of Bitcoin touched the $49,000 level on Jan. 11 – the day when the US Securities and Exchange Commission approved spot Bitcoin ETFs. The move allowed investors, especially financial institutions, to trade Bitcoin without owning it.

The total value of the cryptocurrency market was up 2.74% at $1.92 trillion at the time, while Bitcoin's share of the crypto market, known as dominance, was at 52.6%, according to CoinMarketCap data.

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