

Morgan Stanley is allowing some of its wealthiest clients to add the token to their portfolios, while firms from Mastercard Inc. poured $1 billion of its reserves into Bitcoin and began accepting it as payment for cars.

The five next biggest coins - Ether, Binance Coin, Polkadot, Tether and Cardano - have a combined value of about $422 billion.īitcoin has been on a tear as institutional investors dabble in crypto as a way to boost returns on cash in a world of near-zero interest rates. The total market value of cryptocurrencies pushed past $2 trillion for the first time, doubling in about two months amid surging institutional demand.īitcoin, the largest of the more than 6,600 coins tracked by CoinGecko, is worth more than $1 trillion alone after its price more than doubled in 2021 to $58,858.
