Bitcoinâ€™s market capitalization has crossed the $1 trillion zone after the price per coin surpassed $53,650 per unit. The valuation comes 145 months after the launch of the Bitcoin network on January 3, 2009.
â€˜The First Trillion Is the Hardestâ€™
The price of bitcoin (BTC) has surpassed the territory needed to have a $1 trillion market capitalization. The valuation is a milestone to many crypto supporters who have rallied for the leading currency for the last decade. For the last two weeks, digital currency advocates discussed BTCâ€™s slow and steady approach toward the 1 trillion dollar zone. For instance, on February 16, The Blockâ€™s director of research Larry Cermak said:
The conversation about reaching the 1 trillion dollar milestone was a topical conversation all week, as bitcoiners said it was a long time coming. The same day, the software developer, Jameson Lopp, also talked about the $1 trillion event on social media. â€œThe first trillion is the hardest,â€ Lopp tweeted to his 262,000 followers.
â€˜Bitcoin Going for Gold Nextâ€™
After Lopp made his statement, a number of people compared the decentralized crypto assetâ€™s market valuation to Apple Inc. (AAPL).
It took Apple Inc. around 504 months (42.0319 years) to get to a $1 trillion market valuation one person responded. Another individual mentioned that after Apple captured the $1 trillion valuation, it only took 26 months to reach $2 trillion, which means the ride to a $2 trillion valuation for bitcoin (BTC) very well could be a far less time frame.
Bitcoin reaching a $1 trillion valuation has been a big deal to a number of proponents and many believe the crypto asset is just warming up. The popular creator of the stock-to-flow (S2F) model, Plan B, discussed the watershed moment.
â€œStraight line up to a $1trillion market cap,â€ he said to his 269,000 followers. â€œBitcoin going for gold next ($10T),â€ he insisted.
Civic founder Vinny Lingham, often referred to as the oracle, thinks making it to the $60,000 zone might be in the cards.
â€œBitcoin looks primed to make a big break above $50k,â€ Lingham wrote just before the price surpassed the $50k handle. â€œOnce it clears, it will likely test and break $60k quickly. We could find out which [altcoins] are uncorrelated, as there will likely be some carnage in the alt market, if such a big move materializes,â€ Lingham added.
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