The capitalization of crypto assets reaches IDR 28,000 trillion. It is held by Bitcoin and the overall cryptocurrency market cap passes $2 trillion, or 28,000 trillion rupees (14,000 rupees exchange rate) for the first time in history.
Based on Bloomberg information, Tuesday (June 4, 2022), the market capitalization value has doubled in just 2 months due to an increase in the desire of industrial actors. The increase in the market capitalization of crypto assets is held by Bitcoin.
Crypto asset capitalization. Based on CoinGecko’s search of 6,600 coins, Bitcoin’s current market cap is over $1 trillion. Bitcoin price will double in 2022 and is within $58,858.
The other five cryptocurrencies namely Ether, Binance Coin, Polkadot, Tether and Cardano have jointly reached a value of 422 billion US dollars. Bitcoin is currently having the upper hand as institutional investors enter the crypto market to increase their cash holdings amidst the trend of low interest rates in financial markets.
Tesla, an e-vehicle manufacturer, initially invested $1 billion in cryptocurrency in bitcoin.
The company has received payment to buy its products using Bitcoin. On top of that, Morgan Stanley started to graduate some of their wealthiest clients to add crypto tokens to their investment portfolio.
Crypto asset capitalization. On the other hand, several payment service providers such as Mastercard and PayPal are starting some steps to use Bitcoin in their payment ecosystem.
It’s worth noting that Bitcoin prices go up on Monday (6/4/2022) as Grayscale Bitcoin Trust, the largest institutional cryptocurrency company, announces that it will be converting the Bitcoin funds it says have been traded so far.
On an Exchange or Exchange Traded Fund (ETF). In all, Grayscale currently has $34 billion in Bitcoin funds.
Initially, Coinbase Global, one of the largest cryptocurrency trading bases in the United States, announced that it would start trading its assets this month.
As for the other 5 cryptocurrencies, namely Ether, Binance Coin, Polkadot, Tether and Cardano, combined, they reach a value of 422 billion US dollars. Bitcoin has the upper hand as institutional investors enter the crypto market to increase their cash holdings amidst the trend of low interest rates in financial markets.
The company that makes electronic vehicles, Tesla, has already invested S 1 billion in cryptocurrency in bitcoin. This company has received payment for the purchase of their products using Bitcoin.
