ZB Academy：Bitcoin’s market value reaches $1.12 trillion
The total market value of Bitcoin has now surpassed the Canadian dollar money supply M1. According to data provided by Goingecko, the total market value of global cryptocurrencies currently exceeds $1.8 trillion and is currently approximately $1,862,916 million. At the same time, the total market value of Bitcoin exceeded $1.1 trillion, and it is currently about $1.1213 trillion, accounting for about 60.2% of the total market value. Take-profit.org cited data released by the Bank of Canada on March 6 and showed that as of December 20, 2020, the Canadian dollar money supply M1 was approximately $1.1167 trillion. According to ZB.com’s official market data, Bitcoin is currently quoted at $59,370, a 24-hour decline of 2.61%, and the 24-hour price range is $58,719 to $61,497.
On March 12th, Michael Saylor, the CEO of MicroStrategy, the world’s largest independent business intelligence company, which had been reported many times before, announced on Twitter that MicroStrategy purchased another 262 bitcoins for $15 million in cash, with a unit price of $57,146. As of March 12, 2021, MicroStrategy has acquired 91,326 bitcoins for a total of $2.211 billion, with an average price of $24,214 per bitcoin.
In addition, Conor, the co-founder of the well-known note-taking software Roam Research, also announced on Twitter that his company has invested 2% of its assets in Bitcoin. Conor also stated that Bitcoin is used to hedge risks in the balance sheet, not a source of profit. In July last year, when its software users asked when the platform would participate in Bitcoin, the platform also replied that it does not currently support Bitcoin.
Anthony Pompliano, founder of the well-known capital management company Morgan Creek, also posted his views on Bitcoin on Twitter. He believes that every time someone around the world realizes that their government will print an unlimited amount of money, Bitcoin will become stronger. And Bitcoin is the top predator in the financial market, and investors are racing to use it as a safe-haven asset. He also pointed out that for companies that manage large amounts of national debt, Bitcoin is the asset most likely to generate considerable growth.
Coincidentally, Bitcoin billionaire Cameron Winklevoss also posted Bitcoin views on Twitter. He believes that fiat currency has been on the scale for decades, but it still hasn’t reached the scale of more than $1 billion in unbanked deposits. And because Bitcoin can be ubiquitous, it can be applied to anyone anywhere on the Internet, with greater social scalability. In addition, he also believes that checks for the stimulus plan will surely flood into Bitcoin.
On March 15, Max Keizer, a Wall Street financial analyst and Bitcoin supporter, stated in a recent report that Bitcoin has the potential to become the new base currency and replace the entire $5 trillion foreign exchange market. Keizer said that Bitcoin has an advantage in global payments because of its decentralization, deflation and security features. These features keep this flagship cryptocurrency in a mainstream position. Keiser emphasized that Bitcoin’s advantages as a global payment exchange medium have made banks including Citi Bank obsolete.
About ZB Group
ZB Group was founded in 2012 with the goal of providing leadership to the blockchain development space and today manages a network that includes digital assets exchanges, wallets, capital ventures, research institutes, and media. The Group’s flagship platform is ZB.com, the industry leading digital asset exchange. The platform launched in early 2013 and boasts one of the world’s largest trading communities.
ZB Group also includes ZBG the innovative crypto trading platform, and BW.com, the world’s first mining-pool based exchange. Other holdings include wallet leader BitBank.
Industry intelligence and standards are headed by the recently launched ZB Nexus who embody the core values of ZB Group and open-source their reports and analysis for the public.
Learn more about ZB Group by visiting www.zb.com