The crypto market had some crucial moments in 2021. From the entry into stock exchanges through index funds (ETFs) and the growth of institutional investors, the year was of development and legitimacy of this new asset class.
In addition to bitcoin’s increased adoption, the price of major digital currencies skyrocketed throughout the year.
For the first time in history, the capitalization value of all crypto assets reached US$ 3 trillion. This growth came at the same time as bitcoin broke its last record price near US$ 70,000, recorded in early November 2021.
Bitcoin is worth US$ 1 trillion
The crypto market’s capitalization has shown impressive growth over the past four years, accumulating more than a 450% increase. At the beginning of 2018, the value of all crypto assets amounted to just over US$ 550 billion, with bitcoin alone accounting for US$ 320 billion of the total capitalization.
In less than four years, the value of cryptoassets has jumped from US$ 550 billion to US$ 3 trillion.
Although bitcoin’s dominance has been reduced in the face of total market capitalization in recent years, bitcoin’s market value has reached over US$ 1.3 trillion for the first time.
Digital gold, more expensive than silver
On November 8, 2021, the bitcoin price recorded its latest record high. Driven by this appreciation, the total capitalization gained a market value greater than the market value of silver.
While bitcoin’s capitalization broke a record of US$ 1.37 trillion in early November, silver’s capitalization stood at US$ 1.369 trillion in the same period.
Pointed out as the “digital gold” by MicroStrategy CEO Michael Saylor, bitcoin became an asset valued at US$ 1 trillion for the first time in April 2021.
Until earlier this year, bitcoin’s last record capitalization was US$ 1.17 trillion, when the cryptoasset hit nearly US$ 64,000 on the market
That record was broken when BTC raised its capitalization to US$ 1.37 trillion in November 2021, corresponding to the value of nearly 12% of gold’s total capitalization, valued at the time at US$ 11.55 trillion.
With bitcoin being valued above US$ 1 trillion for the first time and the cryptoasset market at US$ 3 trillion, 2021 was marked by renewed new records throughout the year.
