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Crypto Market Cap Tops $3 Trillion | Bitcoin Review #11  November 12, 2021

posted by First Trust SkyBridge Crypto Industry and Digital Economy ETF
2yrs ago

On Monday, the cryptocurrency market hit a new milestone; the total market cap surpassed $3 trillion, which is four times the cryptocurrency market cap at the end of 2020. This growth was largely driven by Bitcoin reaching a new all time high, pushing through the $68,000 mark earlier this week. Other major coins followed suit, with both Ethereum and Solana reaching record highs.


These breakthroughs come after New York City Mayor-Elect Eric Adams promised to take his first three paychecks in Bitcoin, one-upping Miami Mayor Francis Suarez' promise to take his next paycheck in Bitcoin. Adams is the fourth American mayor to announce he would like to be paid in Bitcoin, joining Suarez, Mayor Scott Conger of Jackson, Tennessee, and Mayor Jane Castor of Tampa, Florida. Additionally, during an interview with CNN on Sunday, Adams proposed implementing crypto education in school curricula.

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ALL ALPHAMAVEN CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. CONTENT POSTED BY MEMBERS DOES NOT NECESSARILY REFLECT THE OPINION OR BELIEFS OF ALPHAMAVEN AND HAS NOT ALWAYS BEEN INDEPENDENTLY VERIFIED BY ALPHAMAVEN. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS IS NOT A SOLICITATION FOR INVESTMENT. THE MATERIAL PROVIDED HEREIN IS FOR INFORMATIONAL PURPOSES ONLY. IT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY INTERESTS OF ANY FUND OR ANY OTHER SECURITIES. ANY SUCH OFFERINGS CAN BE MADE ONLY IN ACCORDANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INVESTMENT'S PRIVATE PLACEMENT MEMORANDUM. PRIOR TO INVESTING, INVESTORS ARE STRONGLY URGED TO REVIEW CAREFULLY THE PRIVATE PLACEMENT MEMORANDUM (INCLUDING THE RISK FACTORS DESCRIBED THEREIN), THE LIMITED PARTNERSHIP AGREEMENT AND THE SUBSCRIPTION DOCUMENTS, TO ASK SUCH QUESTIONS OF THE INVESTMENT MANAGER AS THEY DEEM APPROPRIATE, AND TO DISCUSS ANY PROSPECTIVE INVESTMENT IN THE FUND WITH THEIR LEGAL AND TAX ADVISERS IN ORDER TO MAKE AN INDEPENDENT DETERMINATION OF THE SUITABILITY AND CONSEQUENCES OF AN INVESTMENT.