Bitcoin's value has risen to $28,422 per unit, a 37.9% increase against the US dollar over the past week, the crypto media outlet Bitcoin.com reported on March 20.

The cryptocurrency's market capitalization has grown to $546bn, while its trading volume stands at $42.9bn out of $203bn in trade volume for all digital assets. Bitcoin must surpass Tesla's market cap of $569.94bn to become the 10th largest asset by market valuation. The global cryptocurrency market valuation was $1.18tn on Sunday, an increase of 1.11% over the past day. Bitcoin's dominance on Sunday was 45.7%, while Ethereum's was 18.8%.

Meanwhile, the world’s largest asset manager BlackRock is actively exploring ‘the tokenization of stocks,’ highlighting the advancements happening in digital payments and the potential of asset tokenization in revolutionizing the asset management industry.

 The chairman and CEO of BlackRock Larry Fink noted that while emerging markets are witnessing significant progress in digital payments, developed markets, including the United States, are lagging behind in innovation, resulting in higher costs of payments. Fink believes that the tokenization of assets can improve efficiencies in capital markets, shorten value chains, and improve cost and access for investors. While acknowledging the risks and the need for regulation in the cryptocurrency market, Fink remains optimistic about the potential of digital assets, which BlackRock sees as a maturing industry with exciting opportunities.

Source: BITCOIN.COM