Cryptocurrency market is now worth half as much as Apple, after Bitcoin hit a record above $37,000

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

Visual representations of digital cryptocurrency Bitcoin (BTC) are arranged on a circuit board Yuriko Nakao/Getty Images Value of the cryptocurrency market topped $1 trillion on Thursday, after Bitcoin hit a record above $37,000. The entire crypto market is now worth roughly half of what Apple is and more than the entire economy of Switzerland. Rival token Ethereum hit its highest in two years, above $1,200, while smaller altcoins including XRP also shot up. Visit Business Insider's homepage for more stories. The cryptocurrency market is now worth almost half as much as Apple, the world's most valuable company, after the price of Bitcoin soared above $37,000, bringing total market capitalization to more than $1 trillion. Bitcoin, which has risen by nearly 400% in the last 12 months, traded at an all-time high of $37,823 on the Coinbase platform on Thursday, thanks to an almost unabated push into cryptocurrencies that has brought the value of all coins traded to over $1 trillion, according to CoinMarketCap.com.  This means the entire crypto market is now worth half as much as Apple, the world's biggest company by market cap, which at the last count, was worth $2 trillion.  Cryptocurrencies are also worth more than the entire Swiss economy - home to some of ...read more...