Bitcoin extended its year-end rally over the weekend, climbing to a fresh all-time high of $28,378 per coin. The move pushed the cryptocurrency’s total market capitalization above $510 billion, a milestone that placed it ahead of payments giant Visa by valuation and underscored how rapidly bitcoin was gaining ground as a global financial asset.
At the time referenced in the report, bitcoin was changing hands in a range of roughly $27,250 to $27,750 on Sunday morning. Just three days earlier, on December 24, BTC had traded at $23,796, implying a gain of more than 14% in a very short period. The scale and speed of the move highlighted the strength of the market’s momentum heading into the close of 2020.
Dominance and Trading Activity Accelerate
Market data cited in the source showed bitcoin’s dominance index had risen above 70%, signaling that BTC was not only appreciating in absolute terms but also increasing its share of the broader crypto market. That kind of dominance often suggests investors are concentrating capital in the largest and most established digital asset during periods of intense interest.
The report noted that approximately 18,582,450 BTC were in circulation at the time. Over the previous 24 hours, global bitcoin trading volume reached about $21 billion, reflecting high turnover and substantial liquidity across exchanges.
Stablecoin activity remained central to bitcoin trading. Tether (USDT) accounted for 56% of all BTC trading pairs, making it the largest counter-asset by a wide margin. It was followed by the U.S. dollar at 15.22%, Japanese yen at 8.08%, euro at 5.13%, and South Korean won at 3.52%. The pairing breakdown illustrates how global the bitcoin market had become, with dollar-linked stablecoins and major fiat currencies all playing important roles.
Strong Performance Across Every Time Frame
Bitcoin’s gains were not limited to a single day or week. According to the figures in the article, BTC was up 16.4% over the previous seven days and 59.12% over the prior month. Looking further out, the asset had risen 155% over 90 days and 272% over a 12-month period against the U.S. dollar.
These returns reinforced the narrative that bitcoin had shifted from a niche speculative instrument into one of the strongest-performing major assets of the year. The report also linked the move to growing investor attention, with market participants increasingly comparing bitcoin’s valuation to well-known public companies and traditional financial institutions.
Mining Economics Improve as Price Rises
The rise in spot price had an immediate effect on mining profitability. Using the exchange rate at the time, current network difficulty, and an electricity cost assumption of around $0.06 per kilowatt-hour, the report concluded that miners were earning strong returns in this price environment.
Among mining machines, the Bitmain Antminer S19 Pro (110TH/s) was cited as generating about $15.37 per day. It was followed closely by the Microbt Whatsminer M30S++ at $15.18 per day. Other machines mentioned included 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.
Improved miner profitability is often important for the broader bitcoin ecosystem because it can encourage continued investment in hardware and infrastructure, especially when prices and transaction activity are elevated.
Hashrate and Pool Distribution Remain Robust
The report said the Bitcoin network’s hashrate stood at approximately 136 exahash per second, with a total of 18 mining pools actively mining the chain. The five leading pools at the time were F2Pool, Binance Pool, Antpool, BTC.com, and ViaBTC.
Among them, F2Pool held the largest share, controlling roughly 20% of the network hashrate, or about 26.32 EH/s as of December 27, 2020. These figures suggested that network security remained strong and that industrial-scale mining operations continued to anchor Bitcoin’s underlying infrastructure during the rally.
Public Attention Reaches High Levels
Bitcoin’s price surge was matched by a noticeable increase in mainstream attention. Google Trends data cited in the article gave the search term “bitcoin” a score of 96 out of 100, indicating very high search interest. On Twitter, the subject was also gaining traction, with more than 225,000 tweets discussing the crypto asset on Sunday morning.
That rise in online activity reflected a broader pattern often seen during major bitcoin rallies: market performance fuels media coverage, which in turn attracts more public curiosity, discussion, and potentially new participants. Even without additional speculative claims, the raw trend data alone showed that bitcoin had become one of the most closely watched financial topics at that moment.
Valuation Milestone Puts Bitcoin Among Major Global Assets
One of the most striking elements of the report was the comparison between bitcoin and large public companies. By crossing $510 billion in market value, bitcoin had surpassed Visa and was described as closing in on Berkshire Hathaway. The article noted that this valuation made bitcoin the 11th most valuable global asset relative to the top ten corporations worldwide.
That shift carried symbolic weight. For years, bitcoin had been viewed primarily as a volatile alternative asset. But by reaching a valuation comparable to some of the world’s most recognized companies, it was increasingly being discussed in the same breath as major components of the traditional financial system.
While the report stopped short of making forecasts, the facts it assembled painted a clear picture: bitcoin was entering the end of 2020 with record prices, expanding market capitalization, strong liquidity, profitable mining conditions, and exceptionally high public visibility. Together, those signals pointed to a market experiencing not just a price spike, but a notable moment of maturation and growing relevance on the global stage.