gettyBITCOIN’S STAGGERING CLIMB CONTINUESIt took bitcoin 10-plus years to reach $20,000, but then only another 3-plus weeks to double again to $40,000. In an interview with CNBC, Social Capital’s Chamath Palihapitiya said bitcoin is “probably going to $100,000, then $150,000, then $200,000. However, with all due respect to Mr. Parker, the market cap for the entire crypto industry just passed $1 trillion for the first time to currently reach $1.07 trillion. To add insult to injury, bitcoin’s market cap of $762 billion also just overtook Facebook’s of $754 billion. The updated version as of December 31, 2020, clarifies what’s covered under the term, “virtual currency,” and makes cryptocurrency purchases subject to this question.

Source: Forbes January 09, 2021 19:07 UTC