The total crypto market capitalization reached the important milestone of $2 trillion on April 5. As cryptocurrencies increase in value, they are likely to attract further investments from institutional investors because they can no longer afford to neglect it.
Less than three months ago, the crypto market had reached the $1 trillion in market cap for the first time ever. This rate of growth shows that investors are hugely bullish on the potential of the sector and the ones who delay their investment decisions may have to enter at much higher levels.
Ark Invest founder and CEO Cathie Wood is well known for identifying disruptive technologies and the firm is backing Bitcoin (BTC) to do just that. Yassine Elmandjra, a crypto asset analyst at Ark, said Bitcoin was “100 times better” than gold, hence he believes Bitcoin will rise 10-fold from the current market capitalization of $1 trillion to match gold’s $10-trillion market cap.
Daily cryptocurrency market performance. Source: Coin360