[Asia Economy New York=Correspondent Baek Jong-min] The value of the virtual asset Bitcoin has entered the $54,000 range, with its market capitalization surpassing $1 trillion (approximately 1,100 trillion KRW) for the first time.
According to CNBC and other broadcasts, on the 19th (local time), Bitcoin's market capitalization exceeded $1 trillion. On that day, Bitcoin's price surged to $54,800 during trading. It is also aiming to enter the $55,000 range.
The $1 trillion market capitalization holds significant meaning. In the U.S. stock market, companies with a market cap in the $1 trillion range are extremely limited, including Apple, Microsoft, Amazon, and Google.
Recently, Tesla, which purchased $1.5 billion worth of Bitcoin, has a market capitalization of only $700 billion. Facebook's market capitalization is also below that of Bitcoin.
As Bitcoin continues to rise, the conflict between advocates and critics is intensifying.
Cameron Winklevoss, co-founder of the Gemini cryptocurrency exchange, cheered on Twitter, saying, "From zero to $1 trillion. Bitcoin is devouring dollars as it buys them."
Ken Griffin, founder of Citadel Securities, firmly stated, "I have no interest in cryptocurrencies." The largest U.S. bank, JP Morgan, expressed the view that the Bitcoin rally is unsustainable.
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