It surpassed $1 trillion in April just before US crypto exchange Coinbase began publicly trading. It may still see some resistance around $51,000 but even that may prove temporary," he said.īitcoin's market capitalization was around $936 billion on Monday. "Bullish momentum has been building for weeks now so it's no surprise to see it break $50,000. In fact, there's already murmurings of $100,000 but let's face it, that's been the case ever since it almost hit $20,000 years back," said Craig Erlam, senior market analyst at Oanda Europe, in a note. The move marks "a big psychological victory for the cryptocurrency that will no doubt get people talking about how long it will be until we're back in record territory. The mostly higher moves for crypto miners came as bitcoin on Sunday surpassed $50,000 for the first time since May 15. Shares of Bit Digital, however, lagged behind rival bitcoin miners by losing 4%. MicroStrategy was up 0.8% during Monday's session. Its portfolio includes Marathon Digital Holdings, Riot Blockchain and MicroStrategy, a data analytics company run by Michael Saylor that has big holdings in bitcoin. Amplify Transformational Data Sharing ETF, the largest blockchain exchange-traded fund with total assets of $1.15 billion, according to ETF Database, rose 2.9%. Marathon Digital, which is working to build the largest bitcoin mining operation in North America, rose as much as 10% and Riot Blockchain kicked up 8.7%, with each stock later paring their respective advances to around 3%.īitfarms, a Canada-based renewable energy-focused bitcoin miner, picked up 2%, and Hive Blockchain rose 4% during the session. ![]() Shares of Marathon Digital Holdings and other cryptocurrency mining companies climbed Monday as bitcoin reclaimed the $50,000 level for the first time since a selloff in May.
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