Bitcoin Price Hit $58.000 Surpassing the Price of 1 KG Gold

by in Cryptocurrency News

BTC above $58.000

The leading cryptocurrency continues to reach new highs. It has already surged above $58.000. Thus, the cost of 1 Bitcoin exceeded the price of 1 Kilogram of gold.

Related: Bitcoin hits $52000 to set a new all-time high

Along with this its market cap soared over $1 trillion.

At the very start of the year, on January 2, Bitcoin reached $30.000. On January 25, it was already traded at $40.000 and a week ago the coin broke $50.000. These numbers show that this year BTC has seen a 90% of the price increase.

A number of large companies announced adopting Bitcoin as a payment method. Among them is well-known financial services provider Master Card.

Institutional investments have been growing too.

On February 19, MicroStrategy CEO Michael Saylor announced that the firm had completed a $1.05 billion debt offering, which will be used to buy another $1 billion in bitcoin. On February 8, Tesla told it had bought $1.5 Billion in Bitcoin. According to the estimations of analysts, the company has benefited about $1 Billion due to the investment.