Bitcoin Soars To All-Time Record of $51,400, As Gold Falls To Lowest Value In Months


Bitcoin has continued to defy every obstacle as it has now smashed the $51,000 ceiling, maintaining its trajectory up the currency charts.

On Tuesday, Bitcoin achieved a milestone when it crossed over into the trillion domain in terms of market capitalisation, shouldering 62.3% of the total market cap of all digital currencies in circulation.

It’s Lonely At The Top

Other digital currencies have not enjoyed as much progressive growth such as those closest to Bitcoin, Ethereum and Tether, both of which have posted a megre joint-increase of only 0.53% in the past week.

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However the 7th closest coin to Bitcoin in total market cap, Binance Coin, has suffered an even more topsy-turvy week that has seen it lose 8.57% of its value to stand at $133.56

Monero, Cosmos and IOTA have however posted the most consistencies in the past week, increasing by 40.28%, 55.40% and 68.04% to price at $243.67, $23.36 and $1.30 respectively.

27 Times More Valuable Than Gold

On the other end of the stock exchange is gold which unlike Bitcoin has been steadily depreciating in value over the past 7 days.

Gold attained a 2021 peak of $1933 on January 4, before plummeting by almost 8% to Wednesday’s value of 1785.85 just 14 USD shy of December’s low of $1771.

Gold is now 27 times less value than one token of Bitcoin, the highest disparity in figure of both valuables of all time.


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