Bitcoin Crosses $40K Level As Incredible Rise Continues

Bitcoin (BTC) hit the $40,000 level Thursday afternoon.

Bitcoin broke the $35,000 level on Wednesday amid the massive rally that started in December when it reached the $20,000 mark.

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In fact, Bitcoin briefly passed the value of Tesla TSLA on Thursday morning. Bitcoin had a market capitalization of $717 billion, which would make the cryptocurrency the sixth most valuable company in the world according to AssetDash if it was a publicly-traded company.

The combined market valuation of cryptocurrencies crossed the $1 trillion mark late Wednesday, per data from CoinMarketCap.

Bitcoin traded around $40,216.50 at publication time, according to Coinbase data. The Grayscale Bitcoin Trust GBTC was up 8% to $47.54 per share.

GBTCGrayscale Bitcoin Trust (BTC) Common Units of fractional undivided beneficial interest

$84.15-0.71%