Bitcoin surges past USD 1,21,000 for first time

 Leading cryptocurrency Bitcoin surged past the $1,21,000 milestone for the first time on Monday. According to data from CoinMarketCap, the cryptocurrency went up 2.75 per cent at $1,21,097.94 in early trade.

Market capitalisation of Bitcoin reached at $2.41 trillion, up 2.85 per cent, with trading volumes at $60.69 billion, up 33.12 per cent, the data showed.

This year alone, the



cryptocurrency has surged more than 29 per cent, according to reports.

Ethereum, the second largest cryptocurrency, jumped 3.28 per cent to $3,054.96, with market cap at $368.77 billion and trade volume at $21.62 billion, CoinMarketCap data showed.

According to market watchers, Bitcoin’s surge is driven by longer-term institutional buyers and this will propel it to $125,000 in the next month or two.