Bitcoin market cap surpasses $1 trillion

NEW YORK, NEW YORK – FEBRUARY 08: A bitcoin ATM is seen inside the Big Apple Tobacco Shop on February 08, 2021 in New York City. Tesla announced on Monday that it purchased $1.5 billion worth of bitcoin. (Photo by Michael M. Santiago/Getty Images)

OAN Newsroom
UPDATED 6:35 PM PT – Friday, February 19, 2021

Bitcoin’s value continues to surge to new record highs. On Friday, the digital currency’s market value rose above $1 trillion for the first time ever. According to reports, the value of a single bitcoin surpassed $56,000.

Bitcoin rose about 350 percent over the last six months as digital currencies became more mainstream. There were just 21 million total bitcoins created with about 18.5 million mined so far.

The value is expected to skyrocket further as more companies start accepting digital currency as a form of payment. In early February, for example, the Bank of New York Mellon — the oldest bank in the United States — announced that it would move into the digital currency space. Tesla also recently announced that it will begin to take Bitcoin payments for its products.

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