Bitcoin's Market Volume Exceeds $ 1 Trillion

Bitcoin's Market Volume Exceeds $ 1 Trillion

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Bitcoin's trading volume, which has been on an upward trend since the weekend, has exceeded $ 1 trillion. Bitcoin, whose value exceeds 54 thousand dollars, is currently trading at 53 thousand 700 dollars.

The United States, which is one of the countries most affected by the Coronavirus outbreak, adopted a new stimulus package last weekend. The incentive package, which is expected to be signed and officially put into effect on March 14th, has made not only US citizens but also Bitcoin investors laugh. Because Bitcoin, along with the positive weather created by the incentive package, exceeded the $ 54 thousand threshold.

Behind bitcoin's considerable valuation are reports that institutional investor demand may increase and statements of support from famous investors. Bitcoin, which has increased by 7.48 percent in the last 24 hours, is currently trading at $ 53,700, although its total trading volume has exceeded $ 1 trillion.

Investment giants invest in bitcoin-focused tech company

Behind bitcoin's rise in value is investment not only in Bitcoin, but also in Bitcoin-focused companies. A number of investment giants, including Soros Fund Management and Morgan Stanley, have invested in technology company Nydig, a Bitcoin subsidiary of Alternative Asset Management Company Stone Ridge.

Stone Ridge Holdings Group, New York Life, MassMutual and FS Investments also invested a total of $ 200 million in Nydig. This giant investment by nydig has led to rumors that Bitcoin will be valued even more in the future, but be it you, think twice before considering the rumors.

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