Bitcoin Regains , $1 Trillion Market Cap.<br />On Feb. 14, the cryptocurrency's market capitalization exceeded $1 trillion for the <br />first time since 2021, CNBC reports. .<br />Bitcoin also surpassed the <br />$51,000 level during day trading.<br />It hasn't reached that price since <br />December 2021, CNBC reports. .<br />The price increase comes on the heels <br />of a 150% rally that occurred in 2023.<br />The 2023 rally was in anticipation of <br />the SEC's approval of bitcoin ETFs, <br />which came to fruition in January 2024.<br />However, the cost of bitcoin slumped after the ETF approval, and a new rally kicked off shortly after.<br />That rally is currently happening as <br />investors look toward bitcoin's "halving." .<br />"Halving" is written into bitcoin's code and reduces the supply of the cryptocurrency every four years.<br />The "halving" is set to take place in April. .<br />Just this year, bitcoin is up over 21%.
