Bitcoin, the world's largest cryptocurrency, is up more than 1% today. The price of Bitcoin gained 1.27% to $ 47,351 on Coinmarketcap. The market capitalization of the cryptocurrency increased to $ 895.589 billion. Currently, the global crypto market capitalization stands at $ 2.22 trillion, an increase of 1.52%.
Other cryptocurrencies are also trading green today. Ethereum was up 2.28% at $ 3.746 and Dogecoin was trading 0.70% higher at $ 0.1716.
The Stellar digital token was up 2.17% at $ 0.2694 and Litecoin was up 2.12% at $ 148.73. XRP gained 1.74% at $ 0.8388. Uniswap increased 6.99% to $ 18.08.
Former Twitter CEO Jack Dorsey has said that the cryptocurrency Bitcoin will replace the US dollar. Dorsey has been a huge supporter of Bitcoin. He is also a co-founder and CEO of financial services company Block, formerly known as Square Inc.
Lately, cryptocurrency prices have risen due to comments from billionaire Elon Musk and Cathie Wood of Ark Investment Management LLC. In late July, Elon Musk said Tesla was "more likely" to start accepting bitcoin as payment again.
The comment helped the cryptocurrency break above the $ 30,000 level. The electric car maker said in May that it would no longer accept the cryptocurrency for purchases. It has been a wild ride for Bitcoin the last three years.
The digital currency made its grand debut on Wall Street in December 2017, when major futures exchanges launched Bitcoin futures. Attention brought Bitcoin to roughly $ 19,300, an unprecedented price for the coin.
