Bitcoin Market Cap Passes $1 Trillion

The One and only Original Cryptocurrency Bitcoin (BTC) has passed a market Cap of $1 Trillion dollars. The Institutions are not only taking notice but actively investing and setting up position sizes for themselves. Some do it out in the open like Grayscale Bitcoin trust and others are planning on doing so in the future. Many high profile figures in finance are definitely into Crypto like $6 Billion Soros Fund CEO Fitzpatrick who disclosed that her fund owns “some coins” but not a lot. She said about bitcoin that she  sees the asset as more than an inflation hedge. “I think it has crossed the chasm to mainstream,” she told Bloomberg in an interview.

“Cryptocurrencies now have a market cap of over $2 trillion,” she said. “There’s over 200 million users from around the world, so I think this has gone mainstream.”

When asked about her fund’s current market strategy, Fitzpatrick said that “high inflation, paired with low-interest rates, is leading Soros Fund to take some profits and borrow against some securities to stockpile cash. In her view, a market crash is looming.” According to Bloomberg. 

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