Bitcoin Price Prediction as BTC Market Cap Surpasses $1 Trillion – Can Bitcoin Overtake Gold?
Bitcoin’s market capitalization crossing the $1 trillion threshold represents a pivotal moment in its challenge against traditional assets like gold.
As Bitcoin price prediction becomes a hot topic among investors, the digital currency’s recent fluctuation to $51,940, a decrease of 0.70%, underscores the volatile yet promising potential of this asset class.
Recent developments, such as Celsius’ $2 billion disbursement to creditors and Coinbase’s $3.6 million donation to Bitcoin developers, alongside Justin Sun’s roadmap for a Tron-based Bitcoin Layer Two, signal a robust support system for Bitcoin’s infrastructure and investor sentiment.
These milestones not only highlight the growing acceptance and utility of Bitcoin but also set the stage for its long-term valuation and the intriguing possibilities that lie ahead in the cryptocurrency landscape.
In a significant move, Celsius, once a leading name in the cryptocurrency lending space now facing insolvency, has disbursed $2 billion in Bitcoin and Ethereum to 172,000 creditors.
This initiative, facilitated by PayPal and Coinbase, marks a substantial step toward resolving the lender’s financial woes.
According to a recent court filing, 171,672 Celsius creditors have received their crypto distributions from Coinbase and PayPal. https://t.co/nBFGqZT6Vf
— Cointelegraph (@Cointelegraph) February 17, 2024
The reorganization aims for complete creditor repayment by the end of 2023. Meanwhile, Alex Mashinsky, the former CEO, is scheduled for a trial in September 2024 to address potential conflicts of interest.
Coinbase has made a substantial contribution to the Bitcoin community, donating $3.6 million to Brink, a nonprofit focused on supporting Bitcoin developers.
This generous donation,
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