On March 11, the crypto market witnessed Bitcoin cracking the $70,000 mark for the first time and continuing to rise, reaching its all-time high of over $72,000 per coin. This marks a new milestone for the largest asset in the decentralized world, justifying its position as the most significant one in the financial landscape.
Bitcoin not only achieved its all-time high but also, due to its market cap valuation, surpassed assets like silver, claiming the 8th position among the world's largest assets. This is a significant step forward, surpassing traditional market giants such as Meta (Facebook) and Berkshire Hathaway.
Further up the list, Alphabet representing Google holds the 7th position, and Jeff Bezos' Amazon is in the 6th place. Bitcoin only needs to reach $86,000 to dethrone them and secure a position it has never reached before.
The market was ablaze on Monday, experiencing substantial trading volumes. A notable event of the day was MicroStrategy's millionaire purchase of 12,000 Bitcoins, bringing their total holdings to 205,000 Bitcoins, valued at more than $14 billion. With this purchase, MicroStrategy positions itself as one of the most powerful holders of Bitcoin globally.
Earlier in the day, Robert Kiyosaki, the famous author of "Rich Dad Poor Dad," urged his followers on X to stay focused and continue investing in Bitcoin, silver, and gold, predicting a stock market crash as a matter of time. Kiyosaki, a strong advocate of Bitcoin, consistently highlights the benefits of holding the cryptocurrency.
He has previously criticized the FED as a criminal and corrupt organization, accusing it of favoring the wealthy and impoverishing average Americans. Kiyosaki also referred to the dollar as a fake currency, suggesting that people should acquire assets to hedge against inflation, especially with the government printing more money and accumulating trillion-dollar debts.
It was a busy and engaging Monday, with Bitcoin reaching its all-time price, significant trading volumes, MicroStrategy reinforcing its Bitcoin stake, and Bitcoin surpassing silver as the 8th largest asset in the world. The week is just starting, so stay tuned for more updates on the market.
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