What is bitcoin backed by

In just over two months, the market capitalization of the cryptocurrency market has doubled, according to price tracking website CoinGecko, as retail and institutional investors pile into the space. The whats the highest bitcoin has ever been most significant rally yet for the cryptocurrency market came in 2021. Crypto exchange rates began rising towards the end of 2020, and in January 2021, the global crypto market cap surpassed $1 trillion for the first time. It continued mostly climbing for the rest of the first quarter and by May was worth over $2 trillion. I’ve researched a few dozen AI projects taking into account their market cap, utility, community, team and investors. He co-founded OpenSea in 2017 and it quickly climbed to become one of the most well known — and well funded — NFT marketplaces. Two years ago, it raised $300 million in a Series C round at a $13.3 billion post-money valuation, bringing its total capital raised to over $400 million. Some of its investors include firms Andreessen Horowitz and Paradigm, as well as celebrities like Kevin Durant and Ashton Kutcher.