Bitcoin market cap skyrocket to all-time high

English Nov 18, 2020

With the recent rise of Bitcoin, currently trading near $ 17,800 per unit, the market capitalization of the cryptocurrency has today reached a new historical record, $ 330 billion.

In a nutshell, market capitalization is the sum of all coins in circulation and considering the market price of a single Bitcoin.

Bitcoin's price reached its all-time high, close to $ 20,000, in 2017. But the market capitalization of that time amounted to around $ 328 billion, while today, with the currency's most recent rise, the crypto have reached $ 335.8 billion.

Despite a price lower than $ 20,000 per unit, today there is a lot more Bitcoin in circulation than in 2017. As Bitcoin miners mine new ones all the time (approximately 6.25 every 10 minutes).

On December 16, 2017, when Bitcoin's market capitalization reached its all-time high, there were 16.747 million Bitcoin in circulation. Today, there are 18.545 million Bitcoins in circulation.


Morel Hernandes

Writer passionate about politics, economics, blockchain and crypto-currencies.