Bitcoin broke $38,000 to reach a new record high on Thursday pushing the total value of the entire cryptocurrency market above $1 trillion.
The digital currency reached an all-time high of $38,967, just a few hours after it crossed the $37,000 level, according to Coin Metrics.
The value of the cryptocurrency has increased by 30% since the beginning of 2021, and in the past 12 months it has increased by approximately 370%.
According to data from Coinmarketcap, Bitcoin is by far the most popular cryptocurrency, with a market capitalization of over $700 billion.
Meantime, the value of the entire cryptocurrency market, which consists of bitcoin and other digital currencies such as ether and tether, exceeded $1 trillion for the first time.
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