u.today
Bitcoin (BTC), the world's leading digital asset, has a not-so-publicized record in the crypto and traditional finance ecosystem. This Bitcoin achievement is further complemented by the soaring price of the coin.
Bitcoin's increasing relevance
According to prominent crypto analyst Fred Krueger, BTC is the fastest asset to cross the $1 trillion mark. In a post on X, Krueger posted a chart showing 10 assets whose value has crossed $1 trillion. According to the details, it took Bitcoin 12 years to reach a valuation of $1 trillion, making it the fastest asset to achieve such a feat.
Meta Platforms follows behind Bitcoin, which hit the $1 trillion milestone 17 years after launching. Next on the list is Elon Musk's Tesla, followed by Alphabet, which hit $1 trillion in 18 and 22 years, respectively. Saudi Aramco, a long-standing petroleum and natural gas company, marked 10th place as it hit $1 trillion in 86 years.
Intriguingly, the leading cryptocurrency recorded the highest Compound Annual Growth Rate (CAGR) at 176.54%. CAGR measures an investment's annual growth rate over time, with the effect of compounding taken into account. Therefore, Bitcoin's latest CAGR means investors have received a 176.54% gain on their investments in the past year. This is a huge achievement for Bitcoin, as prominent firms like Microsoft recorded a CAGR of 31.97%.
Bitcoin's performance among these reputable global companies highlights its growing adoption among traders and investors. In the past reported week, Bitcoin's price has increased by 19.7%, fueling positive sentiment from investors.
Bitcoin's price and what to expect
As U.Today reported, Bitcoin reached an all-time high of $82,400 earlier today before dropping slightly. BTC is trading at $81,912, up by 2.4% in the last 24 hours, with a market capitalization of $1.6 trillion. The daily trading volume increased by 35.7% to over $80 billion, indicating investors’ willingness to accumulate the coin.
While the Bitcoin market remains bullish, prominent American angel investor Jason Calacanis predicted that BTC might crash to zero. However, such a scenario, with less than 5% probability, seems very unlikely.