Bitcoin Crosses $40K Level As Incredible Rise Continues

Bitcoin Crosses $40K Level As Incredible Rise Continues

Bitcoin (BITCOMP) hit the $40,000 level on Thursday, January 7 afternoon. Bitcoin broke the $35,000 level on Wednesday amid the massive rally that started in December when it reached the $20,000 mark.

In fact, Bitcoin briefly passed the value of Tesla Inc. (TSLA) on Thursday morning. Bitcoin had a market capitalization of $717 billion, which would make the cryptocurrency the sixth most valuable company in the world if it was a publicly-traded company, according to AssetDash.

The combined market valuation of cryptocurrencies crossed the $1 trillion mark late Wednesday, per data from CoinMarketCap. Bitcoin traded around $40,216.50 at publication time, according to Coinbase data. The Grayscale Bitcoin Trust GBTC was up 8% to $47.54 per share.

© 2021 Benzinga does not provide investment advice. All rights reserved.

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