Bitcoin (BTC-USD) market value passes $1 trillion with single unit value rising above $54k

Bitcoin market valuation has recently skyrocketed throughout the starting months of 2021.

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In the midst of the US Stock Market fracas that hit the likes of GameStop, AMC, and other retail stocks, various cryptocurrencies also saw quite some fluctuation. Dogecoin got its share of attention, but it was barely anything in comparison to the massive shift in Bitcoin (BTC-USD) value. Aided by the turmoil of the stock market back in late January and early February, as well as the reveal of heavy investment and adoption of acceptable payment by Tesla, Bitcoin’s market value has passed over $1 trillion and its single unit value climbed over $54,000 this week.

Bitcoin’s market value move past the $1 trillion mark was reported by cryptocurrency and blockchain news site CoinDesk on Friday, February 19, 2021. According to reports, the currency has gained about 350% value in just the last six months and has taken on significantly more value in very recent months as various large-scale institutions and corporations take a larger interest in the cryptocurrency. A look at the recent valuation of Bitcoin shows the currency going from a low of around $30k back on January 27 to more than $54k per unit as of this time of writing.

A look at one-month data of Bitcoin shows major spikes at both the point that Elon Musk included it in his Twitter bio and Tesla revealed investment in the cryptocurrency.
A look at one-month data of Bitcoin shows major spikes at both the point that Elon Musk included it in his Twitter bio and Tesla revealed investment in the cryptocurrency.

One major factor in the major climb of Bitcoin value has been the revealed interest and investment of Tesla and CEO Elon Musk in the currency. What began as Musk simply including “#bitcoin” in his Twitter bio came to be a hint leading up to Tesla’s reveal that it had converted $1.5 billion USD into Bitcoin cryptocurrency and would begin accepting Bitcoin as acceptable forms of payment sometime in the future. Bitcoin’s value took large jumps around both of these events and continues to rise with further corporate investment.

It remains to be seen where the skyrocket in Bitcoin value will ebb off, but having passed the trillion dollar mark, it’s safe to say it’s a better time than ever for those who invested in the cryptocurrency. Stay tuned as we continue to follow this story for further details and information.

News Editor

TJ Denzer is a player with a passion for games that has dominated a lifetime. When he's not handing out beatdowns in the latest fighting games, exploring video game history, or playing through RPGs with his partner, he's searching for new food and drinks in the constant pursuit of good times with good people inside and outside the South Texas area. You can also find him on Twitter @JohnnyChugs.

From The Chatty
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      February 19, 2021 11:25 AM

      alright, how do i put my 2080 super to work on these things

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        February 19, 2021 8:56 PM

        https://www.nicehash.com/

        I don't know anything about anything and I got it running easily. I haven't cashed out yet. At least one person on the internet said that you should run precise benchmarks for all the miners, then it will choose the most profitable one. Since they get a cut of your stuff this made sense to me.

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          February 19, 2021 9:00 PM

          Side note - I have an EVGA 2070 Super XC Ultra or something, and I just left all clocks and power settings at default and turned the fans up to 70%. It hasn't hit over 65C yet, and is usually around 60C. I mention this because nicehash has an article listing a bunch of cards and how you should reduce core clocks and increase memory and reduce tdp, and the performance you can expect with those settings and a given miner. I assume they were using FE cards for their tests. My card is getting better performance than the tweaked stuff they had, so I'm just going to leave it.

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            February 19, 2021 9:40 PM

            Are you checking power draw? One of the reasons a lot of these guide suggest that is so the card isn’t constantly pulling a ton of watts. Unless you aren’t paying for your electricity in which case carry on.

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              February 19, 2021 9:52 PM

              HWInfo is showing 215W, but the mining windows that support such things regularly show ~170W. The 215W is the card's target so I assume the value from the mining app is more accurate. The machine I'm using is on 24/7 anyway, so nothing else really counts as extra usage.

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                February 19, 2021 9:55 PM

                GPU @ 215W and at my current rate is costing me 50 cents per day. That'll go up to 67 cents at the summer rate.

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      February 19, 2021 11:29 AM

      Crazy how I mostly got out over a year ago but kept 10 for shits and giggles. 😳

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        February 19, 2021 5:27 PM

        I don’t know how you can resist selling those. I would have long cashed out by now, at least most of them

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          February 19, 2021 5:50 PM

          He already has plenty of money, so why sell?

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          February 19, 2021 5:51 PM

          I had more when it was worth far less. Keeping these for the long term.

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          February 19, 2021 6:00 PM

          He definitely already cashed out in the past and very likely did so well that a meager $500K doesn't phase him in the slightest.

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