Bitcoin nears $1 trillion market value as crypto jump tops stocks, gold

Bitcoin traded at around $51,300 as of 1:30 pm on Friday in Hong Kong after quintupling in the past year

Bitcoin is closing in on a market value of $1 trillion, a surge that’s helping cryptocurrency returns far outstrip the performance of more traditional assets like stocks and gold.
 

The largest token has added more than $415 billion of value in 2021 to about $956 billion, data compiled by Bloomberg show. The Bloomberg Galaxy Crypto Index, which includes Bitcoin and four other coins, has more than doubled.

Speculators, corporate treasurers and institutional investors are thought to have stoked Bitcoin’s volatile ascent. Crypto believers are dueling with skeptics for the dominant narrative around the climb: the former see an asset being embraced