Today, the largest cryptocurrency in the world, Bitcoin, has been trading steadily. Bitcoin price rose 0.14% to $46,384 on Coinmarketcap. The market capitalization of the cryptocurrency increased to $876.97 billion. Currently, the global cryptocurrency market cap is $2.23 trillion, up 0.86%.
Other cryptocurrencies were trading on a mixed note today. Ethereum is up 1.64% at $3,815, and Dogecoin is trading 0.46% lower at $0.17.
Digital token Stellar rose 1.21% to $0.286, and Litecoin fell 0.04% to $148.23.
XRP gained 0.73% to $0.8331 and Uniswap gained 3.25% to $18.65.
Former Twitter CEO Jack Dorsey said that the cryptocurrency Bitcoin will replace the US dollar. Dorsey has been a huge supporter of Bitcoin. He is also the co-founder and CEO of the financial services firm Block, formerly known as Square Inc.
Recently, cryptocurrency prices have skyrocketed on the back of comments by billionaires Elon Musk and Kathy Wood from Ark Investment Management LLC. In late July, Elon Musk said that Tesla would “probably” start accepting Bitcoin as payment again.
The comment helped the cryptocurrency to cross the $30,000 mark. The electric car maker said in May 2021 that it would no longer accept cryptocurrency for purchase. It’s been a wild ride for bitcoin for the past three years.
The digital currency made its debut on Wall Street in December 2017, when major futures exchanges rolled out Bitcoin futures. Interest has pushed Bitcoin to nearly $19,300, an almost unheard of price for the coin.