Bitcoin surged to a new all-time high of $28,378 over the weekend, extending its late-2020 rally and pushing its total market capitalization above $510 billion. At that valuation, BTC moved ahead of Visa and edged closer to Berkshire Hathaway, reinforcing its place among the world’s most valuable assets.
At the time referenced in the source material, bitcoin was trading in a range of roughly $27,250 to $27,750 on Sunday morning. Just three days earlier, on December 24, BTC changed hands at around $23,796, implying a gain of more than 14% in a very short span. The move highlighted the speed of bitcoin’s year-end momentum as capital continued flowing into the largest cryptocurrency by market value.
Market Dominance and Volume Expand
The rally was not only reflected in price. Bitcoin’s share of the broader crypto market, often tracked through its dominance index, climbed above 70%. That suggested investors were concentrating heavily in BTC even as the wider digital asset market remained active.
Circulating supply stood at approximately 18,582,450 BTC, while global trading volume over the previous 24 hours reached about $21 billion. In the spot market, Tether (USDT) remained the dominant trading pair for bitcoin, accounting for 56% of all BTC trades. It was followed by the U.S. dollar at 15.22%, the Japanese yen at 8.08%, the euro at 5.13%, and the South Korean won at 3.52%.
Performance over multiple time frames underscored how powerful the trend had become. According to the source data, bitcoin was up 16.4% over seven days, 59.12% over the past month, 155% over 90 days, and 272% on a 12-month basis against the U.S. dollar. Those figures showed that the breakout above $28,000 was not an isolated spike, but part of a broader and sustained appreciation cycle.
Mining Economics Improve with Price Strength
Higher prices also translated into stronger economics for miners. Based on the exchange rate at the time, the current mining difficulty, and electricity costs of around $0.06 per kilowatt-hour, major mining machines were generating solid daily profits.
The top-performing unit cited was the Bitmain Antminer S19 Pro (110TH/s), producing about $15.37 per day. It was followed closely by the Microbt Whatsminer M30S++ at $15.18 per day, the MicroBT Whatsminer M30S+ at $12.69 per day, the Bitmain Antminer S19 95TH/s at $12.00 per day, and the Canaan Avalonminer 1246 at $10.38 per day.
Network-level mining data also pointed to a healthy and competitive ecosystem. Bitcoin’s total hashrate was reported at around 136 exahash per second, with 18 mining pools actively participating in block production. The five largest pools were F2Pool, Binance Pool, Antpool, Btc.com, and ViaBTC. Among them, F2Pool held the largest share, controlling roughly 20% of network hashrate, or about 26.32 EH/s.
Public Attention Surges Alongside Price
The price rally was mirrored by a sharp rise in public interest. Google Trends data showed that the search term “bitcoin” scored 96 out of 100, indicating near-peak search activity. On social media, the asset was also drawing unusually heavy attention, with more than 225,000 tweets about bitcoin recorded on Sunday morning.
This combination of record pricing, elevated search demand, and intense online discussion suggested that bitcoin was once again moving from a market story into a broader public narrative. For traders, miners, and observers alike, that kind of attention often serves as a sign that momentum has expanded beyond crypto-native circles.
Valuation Milestone Puts Bitcoin Ahead of Visa
One of the most widely discussed aspects of the move was bitcoin’s position in the global asset ranking. With a market capitalization above $510 billion, BTC had overtaken Visa and was steadily approaching Berkshire Hathaway. According to the source material, that made bitcoin the 11th most valuable global asset at the time, just outside the top ten.
That ranking carried symbolic significance. For years, bitcoin had been framed alternately as a speculative instrument, an emerging store of value, or a non-sovereign monetary asset. Crossing above half a trillion dollars in market capitalization gave renewed force to the argument that bitcoin was becoming too large to ignore in comparisons with major public companies and established financial networks.
The comparison with Visa was especially notable because it highlighted a contrast between a decentralized monetary network and one of the most recognized payment giants in the world. Meanwhile, closing in on Berkshire Hathaway added another layer to the debate, placing bitcoin in direct conversation with legacy capital markets and long-term value investing benchmarks.
A Rally Driven by More Than Price Alone
What stood out in this phase of bitcoin’s rise was that several indicators were moving in tandem. Price hit a fresh record. Market capitalization crossed a major psychological threshold. Dominance increased above 70%. Mining profitability improved. Hashrate remained high. Search interest surged. Social media discussion accelerated.
Taken together, those metrics suggested that bitcoin’s year-end breakout was supported by a broad set of market signals rather than a single speculative burst. While volatility remained an inherent feature of the asset, the data presented in the source reflected a market environment where adoption, participation, and visibility were all strengthening at the same time.
In short, bitcoin’s climb above $28,000 and beyond $510 billion in market value marked more than another record on a chart. It represented a milestone moment in which price action, network fundamentals, trading activity, and public attention converged, pushing BTC further into the mainstream financial conversation.