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Newsflash: Bitcoin Price Tears Beyond $9,750

Last Updated March 4, 2021 5:02 PM
Samburaj Das
Last Updated March 4, 2021 5:02 PM

Bitcoin price has continued to blitz in an upward spike this morning, hitting a record $9,771.

Within a day of setting a new historic high of $9,000, prices continued to climb overnight before hitting $9,500 during the early hours of Monday. After hitting the figure at 00:30 (UTC), bitcoin price pressed ahead to achieve the new all-time high of $9,771 on Bitfinex at 06:00 UTC, this morning.

At press time, bitcoin price remains above $9,700 with a 7.6% gain in a 24-hour period, according to data from CoinmarketCap. Over the last 7 days, bitcoin is now up 21% as the world’s first cryptocurrency grows to a market capitalization of over $162 billion. That’s a figure that now pits bitcoin within touching distance of Mastercard’s valuation ($171 billion), the world’s second-largest payments processor, after Visa.

Dropped in the world’s M1 (liquid money metric) scale on the CIA’s global list , bitcoin is #27 on the global list, above the likes Brazil and the United Kingdom and fast playing catch up to Russia and Mexico.

Since the turn of the year when prices hit $1,000, bitcoin’s astounding gains now sees the cryptocurrency rise a remarkable 875%(+) in 2017.

Featured image from Shutterstock.