Published by Raynor de Best, Jan 15,

In January , the Bitcoin market cap reached an all-time high and had grown by over billion U.S. dollars when compared to the summer months. The market capitalization currently sits at more than billion U.S. dollars. Market capitalization is calculated by multiplying the total number of Bitcoins in circulation by the Bitcoin price. The Bitcoin market capitalization increased from approximately one billion U.S. dollars in to several times this amount since its surge in popularity in

Bitcoin use among consumers

While its market capitalization grew at an unbelievable rate from to , the public is only slowly becoming aware of its existence. As many as 25 percent of Americans were still not familiar with bitcoin and as of While there are over 18 million bitcoins in circulation, there are only 6, Bitcoin ATMs around the world. So its physical presence is minimal, and the majority of ATMs are located in the United States.

Bitcoin prices

What makes a bitcoin different than traditional currency is that it is decentralized and no single institution or bank controls the bitcoin network. It is also unique because an account is easy to set up and it is completely transparent. The bitcoin price index (the average bitcoin price across leading global exchanges) has also increased significantly since its creation, rising from U.S. dollars in January to a peak of over 13, U.S. dollars at the end of December

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