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CryptoXTimes > Article > Crypto > Bitcoin Sets Record as Fastest Asset to Reach $1 Trillion in Value, Boasting Unprecedented Growth
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Bitcoin Sets Record as Fastest Asset to Reach $1 Trillion in Value, Boasting Unprecedented Growth

Bitcoin fastest to $1 trillion, with record-breaking 176.54% growth rate.

Rubab Fatima
Last updated: November 11, 2024 6:54 pm
Rubab Fatima 7 months ago
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Bitcoin Sets Record as Fastest Asset to Reach $1 Trillion in Value, Boasting Unprecedented Growth

The leading digital asset, Bitcoin (BTC), has merited a fresh milestone, and that one comes with a growing valuation. The world’s biggest cryptocurrency, bitcoin, has broken an unprecedented record as the fastest asset to surpass the $1 trillion market capitalization, said Fred Krueger, a prominent crypto analyst.

Krueger has since posted a social media platform X post sharing a chart of assets that had hit the sought after $1 trillion valuation. The data shows that it only took BTC 12 years to get there, which is the swiftest journey of all cryptocurrencies to reach the milestone.

There are 10 assets in the world that have made it to 1 Trillion. Bitcoin was the fastest.

Ride the fastest horse. pic.twitter.com/os5yAvRy3C

— Fred Krueger (@dotkrueger) November 11, 2024

Bitcoin’s Unprecedented Growth: Leading with a 176.54% CAGR

Another company to achieve the billion-dollar mark was second: Meta Platforms now Facebook at 17 years after the launch, followed closely by Elon Musk’s Tesla at 18 years. The trillion-dollar club, formed of eight companies, includes Alphabet, Google’s parent, which took 22 years and oil giant Saudi Aramco, founded decades ago, which finally joined the group after an incredible 86 years.

Among these global giants, Bitcoin added itself to its records of achievements, having had the highest Compound Annual Growth Rate (CAGR). Bitcoin’s year over year returns beat out already large corporations by a factor of 176.54%. 

For perspective, Microsoft’s CAGR over the same period spanned 31.97% while Bitcoin’s growth and allure as an investment is unprecedented. So for investors, it means that BTC has returned 176.54 percent over one year – and that keeps attracting seasoned traders and new investors to the cryptocurrency market.

In its recent price action, bitcoin has been rising along with its momentum and respect. The cryptocurrency settled at $81,953, surging 2.41% to an all time high of $82,400. Its market capitalization is now $1.6 trillion and trading volume increased by 35.7 percent surpassing $80 billion, a testament to investors’ persistent interest and belief.

Bitcoin’s trajectory has correctly picked up pace, but the cautionary voices in the industry persist. In fact, American angel investor Jason Calacanis just recently made a bearish prediction about BTC, saying it’s theoretically possible for it to even reach zero. But Krueger and other analysts see the odds of this as lower than 5 percent, a low probability type of event.

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TAGGED: Bitcoin, CAGR, Crypto, Cryptocurrencies
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