Bitcoin hit another milestone Saturday morning. For the first time it passed $60,000, a record high that might not last long.
A week ago it went over the $1 trillion mark in total value, and since March of 2020 the price of one coin has risen 963%.
Is there a method to the madness you might be asking yourself? Yes, most likely the rapid, recent rise is because large institutional investors are involved in the game now, and its use will becoming more mainstream.
That’s what the people who are fully behind bitcoin believe, and it’s why they feel this rise is much more legit than other times the value has exploded before evaporating.
Back in 2017, bitcoin value came close to hitting $20,000. But within months, it saw 80% of that value disappear, before starting a slow climb up again.
The mainstream appeal of bitcoin grows every week. Coinbase, the largest U.S. cryptocurrency exchange filed to go public last month.
Tesla and Twitter have embraced bitcoin in a big way, and it will be interesting to see just how long the next benchmark can be reached. $75,000.