1 day ago · Should bitcoin ever reach a $1 trillion market cap, one unit would have to be trading at roughly $54,, meaning the price would require an additional surge of roughly percent. Tags: bitcoin. Dec 21, · Lightning Bitcoin has a total market capitalization of $ million and $, worth of Lightning Bitcoin was traded on exchanges in the last 24 hours. One Lightning Bitcoin coin can currently be bought for approximately $ or BTC on popular exchanges. Dec 19, · Bitcoin's market cap could reach $1 trillion sometime in as investors take its reserve currency status more seriously, according to Garrick Hileman, head of research at 24crypto.de. Major Author: Shalini Nagarajan.
Bitcoin lightning coin market capLightning Bitcoin Trading % Higher This Week (LBTC) - Stock Observer
Some are even claiming that the asset is going to reach new highs that many people never though possible. One of these individuals is Garrick Hileman, the head of research at Blockchain. He says that bitcoin has gained roughly 12 percent in the last 48 hours alone, and that the currency is on the verge of making its way to the top of the financial ladder and proving itself as the ultimate asset. Not bad considering gold has been around for hundreds of years while bitcoin has been around for only Furthermore, Blockchain.
Thus, about 17 million wallets have been established since last December. Hileman is so confident in the prospects of bitcoin that he thinks fiat currencies — including the U. He mentions:. At this point, the Fed is still taking its time because the Fed is happy with the way the world is. On-chain demand and other metrics suggest that the rally was driven more by institutional hedge funds, family offices, and money managers.
Hileman expects to see continued buy-in from retail and Wall Street investors going forward, rather than corporates. That's because it is harder for bigger players to participate than professional investors who already have accounts and easy access to major exchanges, he explained.
As for the US dollar, the researcher expects the world's most popular reserve currency to be digitized sometime in the next five years. The status quo is working well for the dollar because it is dominant through the SWIFT mechanism and the corresponding banking system, he said.
The US government can also raise debt at attractive interest rates, supporting the dollar's status. But a competitive challenge lies in the crypto space and in the rise of stablecoins. Shalini Nagarajan.
Although the bitcoin rally was largely driven by institutional investors, he expects to see continued buy-in more from retail and Wall Street investors going forward. The researcher expects the US to digitize the dollar, but not too soon as he said "the Fed is happy with the way the world is. Visit Business Insider's homepage for more stories.