After Bitcoin jumped above $ 12,400, its market capitalization surpassed the New Zealand dollar

Bitcoin price hit a new annual high of $ 12,420 yesterday and its market capitalization climbed to $ 228 billion, above the value of New Zealand's entire money supply.

As a result of the evening breakthrough, the MTC rate reachedits highest level in the last 13 months. Although the subsequent correction cooled the traders' fuse a little, the bulls continue to control the situation and do not allow a significant pullback. At press time, Bitcoin is trading at $ 12,256 with a daily gain of 3.35%.

According to the FiatMarketCap website, during yesterday's rise the marketturnover of the New Zealand dollar. Although after a slight depreciation, it decreased to $ 226.4 billion, but even now, only 34 fiat currencies surpass BTC in total value.

Currently, the first cryptocurrency is alsois in the top 25 most valuable assets by market capitalization, coming close to PayPal with its $ 230 billion.As fiat currencies depreciate rapidly in 2020 due to the actions of governments to combat the consequences of the pandemic, and bitcoin has grown by 71% since the beginning of the year. many large investors have started using it for portfolio diversification and hedging.

In addition, over the past 5 years, the profitability of VTS has been more than 70 times higher than the indicators of five key stock indices.

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