Bitcoin (BTC) recently broke through $91K, raising speculation about whether a new all-time high is on the horizon. After a 1.41% increase in its market price and a corresponding rise in market cap, Bitcoin has become the seventh most valuable asset, overtaking the long-dominant Saudi Aramco.
At the time of writing, Bitcoin is trading at a market value of $91,869, reflecting a decent 1.41% jump. Its market cap has reached $1.82 trillion, up by 1.39% from $1.78 trillion reported earlier in the morning. The 24-hour market volume for Bitcoin has also climbed 7.43% to $48.21 billion.
With BTC’s volatility now favoring investors, market prediction platform Polymarket has recorded a rise in the probability of Bitcoin reaching $95K, which now stands at 73%, up from 64% in the morning report. This literal ‘million-dollar question’ has generated a market volume of $21,630,758.
Another bet on the platform which asks: “Will Bitcoin hit $100K in 2024?” has found 64% of participants predicting a “Yes.”
Bitcoin’s recent surge has also cemented its place as the 7th most valued asset, surpassing petroleum giant Saudi Aramco, which holds a market cap of $1.786 trillion, according to Companiesmarketcap.
The surge has also benefited the Royal Government of Bhutan, whose 12.207K BTC holdings are now valued at $1.12 billion, reflecting a gain of $12.93 million.
Bitcoin has been navigating the volatile treadmill of late, but it hasn’t been all bad. Despite the negative narrative circulating in mainstream media following a surge in crypto, Bitcoin demonstrated resilience amid its volatility. The result? Bitcoin is gaining momentum, particularly in political discourse. Notably, Poland’s presidential candidate Sławomir Mentzen also expressed his belief in Bitcoin’s potential, with the libertarian candidate promising to establish a Bitcoin National Reserve if he wins the election.
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